Why AST SpaceMobile Stock Popped by 5% on Thursday

A significant price target increase from an analyst helped send AST SpaceMobile (NASDAQ: ASTS) well higher on the second-to-last trading day of the week. Bulls piled into the company, a unique operator that aims to establish a broadband cellular network in space, boosting its stock price by nearly 5% on the day. By contrast, the S&P 500 index only traded flat across the session.The person responsible for that analysis was B. Riley prognosticator Mike Crawford. Before market open on Thursday, Crawford raised his AST price target to $36 per share from his previous $26. He maintained his buy recommendation on the shares too. The analyst believes AST is still well on track to commence commercial operations, and it's set to exit the third quarter with almost $400 million in cash. It also will have at its disposal $145 million deriving from the conversion of stock warrants.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool