Shares of AST SpaceMobile (ASTS) surged on Friday after a Wall Street analyst issued an upgraded rating and pointed to a more favorable investment case for the stock.
AST SpaceMobile, a developer of space-based cellular broadband services, had struggled through a rough stretch heading into the session, falling 10.6% from the prior Friday’s close through Thursday.
Despite the recent weakness, the stock managed to close up 5.1% on the day, pulling back from an earlier intraday gain of as much as 12.1%.
B. Riley analyst Mike Crawford upgraded ASTS to buy from neutral, maintaining his existing $85 price target on the satellite broadband company.
Crawford’s rationale centers on the stock’s significant decline, with shares having fallen more than 50% over the past six months, according to Thefly.com.
The analyst now believes the selloff has created a more attractive entry point, with AST SpaceMobile offering investors a better risk/reward profile at current levels.
AST SpaceMobile operates in a competitive and rapidly evolving sector, positioning itself as one of SpaceX’s most notable rivals in the race to deliver space-based connectivity.
The company’s long-term growth thesis is closely tied to its ability to make measurable progress toward the commercial launch of its broadband service.
Investors will be watching for concrete operational developments that could validate the bull case Crawford laid out in his Friday note.
While analyst upgrades and price targets can signal renewed confidence in a stock, investors are generally better served by conducting their own due diligence before acting on such recommendations.
ASTS remains a speculative play in a high-stakes industry where execution, regulatory progress, and capital deployment will ultimately determine whether the company can deliver on its ambitious promise of global satellite-based cellular coverage.
For those tracking the space technology sector, AST SpaceMobile continues to be among the more closely watched names, given its potential to disrupt traditional mobile broadband infrastructure on a global scale.
