{ }
Symbol ASTS
Name AST SpaceMobile, Inc.
Currency USD
Sector Communication Services
IndustryGroup Telecommunication Services
Industry Diversified Telecommunication Services
Market NASDAQ Global Select
Country United States
State TX
City Midland
Zipcode 79706
Website http://ast-science.com
The Polaris Dawn mission marked a milestone in commercial spaceflight, achieving the first commercial spacewalk and breaking Apollo 17's altitude record at over 1,400 kilometers. Despite a hard landing, Intuitive Machines' IM-1 successfully became the first commercial spacecraft to softly land on the moon, showcasing the growing capabilities of private space ventures. The 2024 SpaceNews Icon Awards will honor significant achievements in space exploration, highlighting the contributions of individuals and organizations in advancing safety, sustainability, and innovation in the industry.
Pawel Skonieczka of Deutsche Bank discusses the burgeoning space economy, projecting it could reach $1 trillion by 2040, driven by sectors like direct-to-device connectivity and Earth observation. He highlights the critical role of regulatory frameworks and advancements in satellite technology, such as laser optical links, in fostering growth. The conversation also touches on Deutsche Bank's support for companies like SES and AST SpaceMobile, emphasizing the bank's commitment to both established and emerging players in the space sector.
Space stocks surged this week, with gains of up to 41% for companies like Rocket Lab and Intuitive Machines, fueled by a "Trump-Elon trade" rally and positive third-quarter results. Analysts highlight a shift towards newer space firms as legacy players decline, driven by lower costs and increased investor interest in the sector's growth potential. The incoming Trump administration's focus on space is expected to sustain this momentum, benefiting companies like Rocket Lab.
Victory Capital Management Inc. increased its stake in AST SpaceMobile by 5.5%, owning 15,542 shares valued at $180,000. Institutional investors hold 60.95% of the company, which focuses on space-based cellular broadband services. Analysts have raised price targets for the stock, with UBS Group setting a new target of $31, indicating a potential upside of 38.76%.
AST SpaceMobile Inc. has secured launch contracts with Blue Origin and SpaceX to deploy up to 60 Block 2 satellites for space-based cellular service. The Midland, Texas-based company plans to utilize Blue Origin's New Glenn and SpaceX's Falcon 9 rockets over the next two years to place these satellites into low-Earth orbit.
Globalstar's stock surged over 30% following Apple's announcement of a $1.7 billion investment to enhance satellite communications for iPhones. The deal includes a 20% equity stake for Apple and $1.1 billion in cash prepayments, alongside $232 million to help Globalstar refinance debt. This partnership aims to improve emergency services and basic texting capabilities via Globalstar's L-band satellite network, while Apple will retain 85% of the network's capacity for its use.

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