What's Going On With AST SpaceMobile Stock Thursday?
Portfolio Pulse from Adam Eckert
AST SpaceMobile Inc (NASDAQ:ASTS) shares surged on Thursday following the company's second-quarter financial results. Despite reporting a larger-than-expected loss of 51 cents per share, the company is on track to launch five satellites in early September. Analysts from B. Riley Securities and UBS maintained Buy ratings and raised their price targets.
August 15, 2024 | 3:14 pm
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AST SpaceMobile reported a larger-than-expected Q2 loss but is on track to launch five satellites in early September. Analysts maintained Buy ratings and raised price targets, leading to a 32.8% surge in share price.
The company's upcoming satellite launch and positive analyst ratings have significantly boosted investor confidence, leading to a sharp increase in share price despite the earnings miss.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100