AST SpaceMobile (ASTS) Stock Jumps 3% as Satellite Race Heats Up Before Earnings

TLDR

• ASTS rose about 3% Friday after AST SpaceMobile announced expanded satellite network testing across Europe
• Testing is underway with Vodafone, Orange, Telefónica, and Deutsche Telekom across the UK, Ireland, France, Germany, and Spain
• AST also secured regulatory approval for direct-to-cell services in Japan with Rakuten Mobile
• Q2 earnings are due Monday, August 10; analysts expect revenue of $34.98 million, up 2,916% year over year
• Consensus analyst rating is “Hold” with an average price target of $87.60, suggesting upside from current levels

AST SpaceMobile stock opened at $67.36 on Friday, climbing roughly 3% early in the session after the company announced it had expanded satellite network integration testing across Europe.

AST SpaceMobile, Inc., ASTS

The stock sits well below its 50-day moving average of $76.79 and its 200-day moving average of $86.31. Its 12-month range runs from $36.08 to $133.86.

Testing is now underway in the UK, Ireland, France, Germany, Spain, Romania, the Czech Republic, and Ukraine. The company is working with Vodafone, Orange, Telefónica, and Deutsche Telekom to integrate its space-based service with existing mobile networks on the ground.

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