Satellite manufacturer AST SpaceMobile (NASDAQ:ASTS) provided an update on fundraising progress as the company is looking to close a strategic investment this month, “subject to completion of final documentation and approvals.”
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The company also informed that it has secured “initial ground infrastructure orders” from two customers for planned commercial service.
Is ASTS a Good Stock to Buy?
Only one analyst has covered ASTS over the past three months and has a Buy rating with an ASTS price target of $23 on the stock. Over the past year, ASTS stock has gone up by more than 8%.
