On September 8, AST SpaceMobile, Inc. rose 5.42% in regular trading, trading at $65.73/share, with turnover of $134 million. The stock rallied on reports that four major European telecom operators are in preliminary discussions to form a consortium for satellite spectrum bidding.
According to reports, Deutsche Telekom, Orange, Vodafone, and Telefonica are exploring a joint bid for EU 2GHz satellite spectrum to offer direct-to-smartphone satellite services, aiming to counter Starlink's expansion in Europe. Notably, Vodafone has already established a joint venture with AST SpaceMobile, Inc. to provide direct-to-handset satellite connectivity, making the consortium's progress a direct positive catalyst for the company's European business outlook.
The news comes amid broader momentum for the company. Berenberg recently initiated coverage with a Buy rating and a $92 price target. Additionally, both SpaceX and AST SpaceMobile, Inc. have expressed interest in acquiring space-based wireless spectrum held by Grain Management, with bids solicited at around $6 billion. The company's backlog stood at approximately $1.3 billion as of Q2, underpinning multi-year revenue visibility.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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