By Jerry Kronenberg | Moomoo News
$AST SpaceMobile (ASTS.US)$ rose more than 25% intraday Friday as the space-based broadband company rallied for a second day on well-received Q1 results and a new deal with $AT&T (T.US)$.
ASTS gained as much as 27% Friday to a $5.12 intraday high – adding to a 68.6% rally seen Thursday after the firm announced its AT&T contract and Q1 financials on Wednesday after the bell.
Shares later consolidated a bit to trade at $4.64 shortly before 2:30 p.m. Friday, but remained 15.1% higher for the session and 94.1% since Wednesday’s close.
ASTS rose after the company and AT&T announced a six-year deal Wednesday to provide everyday cell-phone customers with service using the space-based broadband system that ASTS is currently building.
Separately, AST SpaceMobile also reported a $0.16 loss per share on Wednesday for Q1 – narrower than the $0.21 of red ink that analysts’ consensus estimates had reportedly called for.
Q1 sales came in at $500,000 -- trailing analysts’ reported $5.5 million consensus, but not weak enough to put a damper on the stock’s rally.