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AST SpaceMobile

AST SpaceMobile, Inc. - Class A Common Stock

Analyst ratings are quantitative and qualitative analysis of a stock by Wall Street stock rating analysts. Stock ratings consist of expected future growth, current stock valuation and macroeconomic trends.

Christopher Schoell's

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AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) reported a loss for its <a href="https://www.benzinga.com/news/24/08/40376784/whats-going-on-with-ast-spacemobile-stock-wednesday">second quarter on Wednesday.</a>



AST SpaceMobile reported second-quarter sales of $900,000. The company reported an adjusted loss of 51 cents per share, missing analyst estimates for a loss of 22 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>



AST SpaceMobile highlighted a strategic investment by Verizon during the quarter that brings a $100 million financial commitment. The company ended the quarter with $287.6 million in cash, cash equivalents and restricted cash. AST SpaceMobile also had $51.5 million of additional liquidity available to draw under its senior secured credit facility.



"We stand at a pivotal moment for AST SpaceMobile. The arrival of our first five commercial satellites at the launch site marks the culmination of years of relentless innovation and perseverance, in partnership with industry leaders like AT&amp;T, Google, Verizon, Vodafone and Rakuten, among others," said Abel Avellan, founder, chairman and CEO of AST SpaceMobile.



AST SpaceMobile shares fell 0.7% to close at $20.81 on Wednesday.



These analysts made changes to their price targets on AST SpaceMobile following earnings announcement.



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846f34eee7bf6000154d13c/mike-crawford">B. Riley Securities analyst Mike Crawford</a> maintained AST SpaceMobile with a Buy and raised the price target from $15 to $26.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120-1024x519.png" alt="" class="wp-image-496892" style="width:519px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120-1024x519.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120-768x389.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120-1536x778.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092001/image-120.png 1643w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/65eadc8e9b25ca0001b33514/christopher-schoell">UBS analyst Christopher Schoell </a>maintained AST SpaceMobile with a Buy and raised the price target from $13 to $30.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="404" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40-1024x404.png" alt="" class="wp-image-496895" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40-1024x404.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40-768x303.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40-1536x606.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15092035/image-1-40.png 1667w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read More:<a href="https://www.benzinga.com/news/24/08/40393013/pfizer-conagra-brands-and-2-other-stocks-insiders-are-selling"> </a>



<ul>
<li><a href="https://www.benzinga.com/news/24/08/40393013/pfizer-conagra-brands-and-2-other-stocks-insiders-are-selling">Pfizer, Conagra Brands And 2 Other Stocks Insiders Are Selling</a></li>
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ASTS

These Analysts Boost Their Forecasts On AST SpaceMobile After Q2 Results

finance-4858797_1280

AST SpaceMobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares are trading higher Monday, adding to gains of more than 110% over the last month. Here&#8217;s a look at <a href="https://www.benzinga.com/quote/ASTS">what&#8217;s going on</a>.



What To Know: The rally in shares of AST SpaceMobile started in mid-May when the company reported financial results for the first quarter and signed a deal with AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).



Specifically, AT&amp;T and AST SpaceMobile entered a commercial agreement, which extends until 2030, to work towards their first space-based broadband network directly accessible by everyday cell phones.



The rally has continued in recent weeks amid positive analyst coverage.



<ul>
<li>Scotiabank analyst Andres Coello maintained AST SpaceMobile with a Sector Outperform and raised the price target from $7.4 to $12.9.</li>



<li>UBS analyst Christopher Schoell maintained AST SpaceMobile with a Buy and raised the price target from $7 to $13.</li>
</ul>



In late May, AST SpaceMobile entered a strategic partnership with Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) to provide direct-to-cellular AST SpaceMobile service when needed for Verizon customers. The partnership includes a $100 million commitment from Verizon.



See Also: <a href="https://www.benzinga.com/insights/cryptocurrency/24/06/39359911/cryptocurrency-internet-computer-decreases-more-than-5-within-24-hours">Cryptocurrency Internet Computer Decreases More Than 5% Within 24 hours</a>



ASTS Price Action: AST Space Mobile shares are trading 10.4% higher at $11.28, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



Image: 4858797 from Pixabay.

Movers

The rally in shares of AST SpaceMobile started in mid-May when the company reported financial results for the first quarter and signed a deal with AT&amp;T.

What&#39;s Going On With AST Space Mobile Shares Monday?

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