ASTS Stock Recent News

AST SpaceMobile, Inc. (ASTS) Q4 2023 Earnings Call Transcript

AST SpaceMobile just entered the tape-out phase for its ASIC with Taiwan Semiconductor. This marks the transition from design to production as the company readies a new space-based broadband service accessible by everyday smartphones.

AST SpaceMobile (ASTS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

AST SpaceMobile aims to provide mobile cellular connectivity through satellites directly to smartphones, revolutionizing space-based connectivity. The company faces competition from Lynk, another satellite-to-phone service developer, and financial challenges due to expenses and potential delays. AST SpaceMobile has strategic partnerships with major companies and aims to generate revenue in 2024 through agreements with mobile network operators and other potential use cases.

Seven space stocks should be on your watch list this month. These companies are at the forefront of the rapidly growing space industry, which is being driven by increased commercial activities, new technological innovations, and ambitious exploration plans by both private firms and government agencies.

AST SpaceMobile updated its filings with the International Telecommunication Union, choosing the U.S. as its regulatory home. Investors are responding to this rather arcane legal development by bidding up the stock more than 10%.

Two days ago, Scotiabank initiated coverage of AST SpaceMobile stock with a buy rating. Today, UBS seconded that emotion.

Space stocks are set to be a $1 trillion (or more) industry—and today is a prime entry point to enter the future massive market. We're moving past the point of moonshot stocks (pun intended) with little hope of practical space application capturing the bulk of investor enthusiasm—Virgin Galactic Holdings (NYSE: SPCE ), for one.

Scotiabank initiated coverage of AST SpaceMobile stock with a buy rating today. AST is losing money and has no revenue, but Scotiabank thinks the stock is still worth more than twice what it costs.

Stocks under $10 tend to fall within one of three camps: a small-cap value play unlikely to expand much further, a pre-revenue or unprofitable company set to explode in the future or a small-cap stock either on the decline from past highs or destined for the dustbin. That's why picking solid stocks under $10 is a tricky proposition.