AST SpaceMobile's BlueBird 7 Mission Launches Amid Market Weakness
Written by Emily J. Thompson, Senior Investment Analyst
AST SpaceMobile Inc. shares fell 6.40% today, crossing below the 5-day SMA, reflecting broader market weakness as the Nasdaq-100 and S&P 500 declined by 1.83% and 1.06%, respectively.
Despite the stock's decline, AST SpaceMobile is preparing for its BlueBird 7 mission set to launch in February, which will feature the largest commercial communications array capable of supporting data speeds up to 120 Mbps. This mission marks a significant advancement in satellite communications and is backed by over 3,800 patents, aiming to deploy 45 to 60 satellites by year-end. Analysts remain cautious ahead of the upcoming earnings report, estimating a loss of 19 cents per share and revenue of $39.03 million.
The implications of the BlueBird 7 mission are substantial, as it enhances AST SpaceMobile's capabilities in space-based services and could attract increased investor interest despite the current market conditions.
Analyst Views on ASTS
Wall Street analysts forecast ASTS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASTS is 74.26 USD with a low forecast of 43.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
Wall Street analysts forecast ASTS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASTS is 74.26 USD with a low forecast of 43.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
Current: 122.090
Current: 122.090
About ASTS
AST SpaceMobile, Inc. is engaged in building a global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on its intellectual property (IP) and patent portfolio and designed for both commercial and government applications. The Company is engaged in designing and developing the constellation of BlueBird (BB) satellites and has planned space-based Cellular Broadband network distributed through a constellation of low Earth orbit (LEO) satellites. Its SpaceMobile Service is being designed to provide high-speed cellular broadband services to end-users who are out of terrestrial cellular coverage using existing mobile devices. The Company intends to continue testing capabilities of the BW3 test satellite, including further testing with cellular service providers and the government. The Company has operations in India, Scotland, Spain, and Israel.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
