What's Going On With AST SpaceMobile Stock?

AST SpaceMobile, Inc. ASTS shares are trading lower Friday. The stock is a trending ticker on WallStreetBets after gaining more than 13% on Thursday.

The Details:

Earlier in the week, AST SpaceMobile announced it had received approval from the Federal Communications Commission (FCC) to launch its first five commercial BlueBird satellites. The company said on Friday that the Bluebird satellites have arrived in Cape Canaveral, Florida, ahead of the planned orbital launch during a 7-day launch window in September.

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"These satellites represent years of relentless innovation,” said Abel Avellan, CEO of AST SpaceMobile. “We are excited to take yet another step towards bridging the digital divide on a global scale with space-base cellular broadband.” 

According to data from Benzinga Pro, 18.21% of AST SpaceMobile shares are being sold short which can contribute to volatile price action when combined with interest from retail investors.

Will ASTS Stock Go Up?

When trying to assess whether or not AST SpaceMobile will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $12.95 on AST SpaceMobile. The Street high target is currently at $13 and the Street low target is $12.90. Of all the analysts covering AST SpaceMobile, 2 have positive ratings, no one has neutral ratings and no one has negative ratings.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering AST SpaceMobile have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. AST SpaceMobile is 329.9% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.

For a broad overview of everything you need to know about AST SpaceMobile, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

ASTS Price Action: According to Benzinga Pro, AST SpaceMobile shares are down 6.27% at $20.92 at the time of publication Friday.

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 Image: Courtesy of AST SpaceMobile, Inc.