AST SpaceMobile (ASTS) Stock Surges 5% Following Jim Cramer’s ‘Let’s Own This One’ Endorsement
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AST SpaceMobile's stock surged 4.6% to $90.94 following Jim Cramer's endorsement on Mad Money and Amazon's acquisition of Globalstar, sparking interest in the LEO satellite industry. The company's stock has been impacted by mixed analyst opinions and its speculative nature.
AST SpaceMobile's shares rose 4.6% to $90.94 on Thursday, driven by increased trading volume of 17.9 million shares. The surge was partly fueled by Amazon's acquisition of Globalstar, which sparked renewed interest in the low Earth orbit (LEO) satellite industry. Jim Cramer endorsed AST SpaceMobile on his Mad Money program, citing its 'unique property' and speculative nature. The company projects FY26 revenue between $150M-$200M and maintains a $1.2B contracted backlog. Analyst opinions are divided, with a consensus price target of $77.10. AST SpaceMobile operates a BlueBird satellite constellation, enabling direct connectivity to conventional smartphones. The company reported $54.31 million in revenue for its latest quarter, surpassing Wall Street's expectations.
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