On September 4, AST SpaceMobile, Inc. rose 5.07% in regular trading, trading near $64.15 per share with turnover of approximately $128 million, extending its rebound this week.
On the news front, Berenberg initiated coverage of the U.S. space sector earlier this week, assigning AST SpaceMobile, Inc. a Buy rating with a $92 price target, implying significant upside from current levels. Analyst Michael Filatov highlighted that the space economy surpassed $500 billion last year and is expected to exceed $1 trillion before 2030. The bullish initiation has continued to bolster market confidence after the stock had pulled back to around $56 amid Q2 adjusted EPS of -$0.35 missing the -$0.28 estimate and uncertainty surrounding the potential acquisition of Grain Management's $6 billion space-based wireless spectrum assets. Bank of America had also trimmed its target from $95 to $80 following the earnings miss. However, the company raised its full-year revenue guidance to $150-200 million and reported backlog growth to approximately $1.3 billion, providing medium- to long-term fundamental support.
(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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