With 33 hedge funds having stakes in the company, AST SpaceMobile, Inc. (NASDAQ:ASTS) is among the 9 Best Space Stocks to Buy According to Reddit and Social Media.
On May 14, Roth Capital stated that the joint venture between AT&T Inc., T-Mobile US, Inc., and Verizon Communications Inc. to address direct-to-device wireless coverage gaps represents a positive development for AST SpaceMobile, Inc. (NASDAQ:ASTS). AST SpaceMobile has publicly supported the initiative and already maintains strategic partnerships and investments with AT&T and Verizon. The analyst noted that the venture could potentially create an opportunity for AST to deepen engagement with T-Mobile as well, describing the move as a significant competitive response within the satellite-to-device connectivity market. Shares of AST rose 3%, or $2.17, to $76.98 in morning trading following the commentary.
On May 12, Roth Capital raised the firm’s price target on AST SpaceMobile, Inc. (NASDAQ:ASTS) to $108 from $82.50 while maintaining a Buy rating on the shares. Although the company’s Q1 results fell short of consensus expectations due to timing related to ground station shipments and government revenue recognition, the analyst emphasized that launch execution and long-term deployment schedules remain far more important than short-term quarterly fluctuations. Roth also highlighted that AST SpaceMobile remains fully funded, with plans for more than 100 satellites supported by approximately $3.5 billion in cash on the balance sheet.
AST SpaceMobile, Inc. (NASDAQ:ASTS), founded in 2017 and headquartered in Midland, Texas, is a space and telecommunications company developing the world’s first space-based cellular broadband network designed to connect directly with standard, unmodified smartphones. The company’s satellite infrastructure aims to eliminate cellular dead zones by delivering seamless global mobile connectivity, positioning AST SpaceMobile at the intersection of next-generation telecommunications and space-based communications technology.
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