$ASTS Stock Could Explode Higher On Satellite To Phone Tech

  • Post category:Stock Trading
  • Reading time:3 mins read
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Barclays analyst Mathieu Robilliard initiated coverage of AST SpaceMobile with an Overweight rating and $29 price target. The $29 price target is 127% higher than the current price. The company’s “proposition is unique and the addressable market is very significant,” with its goal of extending mobile coverage everywhere via satellite, Robilliard tells investors in a research note. This promises to address a growing policy priority for governments: bridging the digital divide, says the analyst. Robilliard says that if the technology works as planned and management executes, he sees a “compelling investment opportunity.”

The company has been a favorite on Reddit. Its goal is to use satellites to extend mobile coverage everywhere.

Deutsche Bank gave ASTS a price target 243% higher than the current price; however, that’s only if the tech works and can be scaled as intended.

On July 9, 2021, AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, announced the opening of its UK headquarters.

On July 6, 2021, AST SpaceMobile, Inc. (NASDAQ: ASTS) signed a Memorandum of Understanding (MoU) to collaborate with Smart Communications, a leading mobile services provider in the Philippines.

ASTS Stock

ASTS stock has formed an ascending triangle breakout on the daily chart.

ASTS stock on an ascending triangle breakout as of July 12, 2021.

The money flow is negative though which suggests the upward move is losing momentum. However, that’s nothing that news of new contracts couldn’t fix.

AST SpaceMobile is building space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. AST SpaceMobile, formerly known as New Providence Acquisition Corp., is based in Texas, United States.

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