AST SpaceMobile Surges to Third in WSB Rankings Amid Stock Rally

AST SpaceMobile ranks third in the latest WSB rankings, climbing seven places from the previous day.

AST SpaceMobile (ASTS) saw a 12.48% increase in its stock price, marking the second consecutive day of gains. Over the past two days, the stock has risen by 13.91%.

On September 4, Deutsche Bank maintained its buy rating for AST SpaceMobile, with a target price set at $63.00.

AST SpaceMobile released its mid-2024 financial report on August 14. As of June 30, 2024, the company's revenue stood at $1.40 million, while its net profit was -$171 million. The basic earnings per share were -$0.70.

Founded on May 28, 2019, in Delaware, AST SpaceMobile is an innovative designer and manufacturer of satellites. The company, along with its global partners, is building the first and only space-based cellular broadband network accessible by standard smartphones. AST's SpaceMobile Low Earth Orbit satellite network aims to provide global direct mobile broadband connectivity for any standard, unmodified off-the-shelf mobile device, supporting 2G/3G/4G LTE/5G and IoT devices.

On August 29, B. Riley Securities reaffirmed its buy rating for AST SpaceMobile, adjusting the target price to $36.00.

Again, on August 14, AST SpaceMobile published its mid-2024 financial results, with revenues of $1.40 million and a net profit of -$171 million. The company's basic earnings per share were -$0.70.

AST SpaceMobile's mission is to eliminate the connectivity gaps faced by mobile users and ultimately bring broadband to billions of unconnected individuals globally. The company leverages a broad portfolio of IP and patents to build a network that operates directly using standard, unmodified mobile devices.