TLDR
- AST SpaceMobile (ASTS) stock rose 1% to $51.46 on Monday after touching a high of $54.67.
- Deutsche Bank moved the stock from Hold to Buy and set a $93 price target, about 81% above the previous close.
- BlueBirds 14, 15 and 16 arrived at Cape Canaveral, but no launch date has been announced.
- Berenberg kept its Buy rating after SpaceX agreed to buy a low-band spectrum portfolio.
- Analysts are split with six Buy, six Hold and two Sell ratings, and the average price target is $84.58.
AST SpaceMobile (ASTS) stock rose 1% to $51.46 on Monday. It was up as much as 4% at $52.86 in morning trading and reached $54.67 during the session.
Deutsche Bank upgraded the stock from Hold to Buy and set a $93 price target. That target implies about 81% upside from the previous close.
Volume reached 21.7 million, well above the daily average of about 16.7 million. Even with the bounce, the stock is still down 27% year to date.
The 52-week range runs from $47.57 to $133.86. So the stock sits much closer to its low than its high.
Satellites Arrive at Cape Canaveral
The company said over the weekend that BlueBirds 14, 15 and 16 are now at Cape Canaveral. No launch date has been announced.
Thirteen satellites are in orbit today. The company is targeting about 45 by early 2027.
Rocket Lab (RKLB) fell 0.8% to $67.66, and Intuitive Machines (LUNR) slipped 0.5% to $13.13. The Procure Space ETF (UFO) gained 0.2% to $42.05.
Berenberg kept its Buy rating after SpaceX agreed to buy a low-band spectrum portfolio from Grain Management. The deal still needs approval from the FCC.
Berenberg analyst Michael Filatov argued the purchase makes AST SpaceMobile more relevant. In his view, it leaves the company as the natural satellite partner for existing carriers.
Analyst Views and Financials
Wall Street is split on the stock. Six analysts rate it Buy, six rate it Hold and two rate it Sell.
The consensus rating is Hold, with an average price target of $84.58. UBS started coverage with a Buy in September, and Cantor Fitzgerald raised its target from $80 to $90 in August.
The company’s last quarter fell short of estimates. It posted a loss of $0.77 per share against a expected loss of $0.32, and revenue of $31.52 million trailed the $34.53 million forecast.
Insiders traded on both sides. Director Adriana Cisneros bought 10,822 ASTS stock at $57.22 on August 31, while COO Shanti Gupta sold 12,000 at $58.89 on September 16.
The stock remains under its 50-day average of $62.91 and its 200-day average of $75.58. Its market cap stands at about $20 billion.
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