Why AST SpaceMobile Shares Are Moving Today

AST SpaceMobile Inc ASTS shares are trading higher by 4% at $13.28 Monday morning after Barclays initiated coverage on the stock with an Overweight rating and a $29 price target.

AST SpaceMobile is building a space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. It is engaged in eliminating the connectivity gaps faced by subscribers and bring broadband to the ones who remain unconnected.

AST SpaceMobile has a 52-week high of $25.37 and a 52-week low of $6.96.