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MIDLAND, Texas - AST SpaceMobile, Inc. (NASDAQ: ASTS), known for developing the first space-based cellular broadband network, is set to join the prestigious Russell 1000® Index after the U.S. market closes on June 27, as announced in their recent press release. The company, currently valued at $11.55 billion, has demonstrated remarkable market performance with a 310% return over the past year, according to InvestingPro data. The Russell 1000 Index tracks the performance of the top 1,000 U.S. companies by market capitalization, and AST SpaceMobile’s inclusion signifies its growing status in the market.
The move to the Russell 1000® is a reflection of AST SpaceMobile’s progress and its ambition to provide cellular broadband connectivity worldwide, directly to mobile devices. Andrew Johnson, Chief Financial Officer of AST SpaceMobile, expressed that the inclusion in the index is expected to increase the company’s visibility among investors and support its ongoing technological advancements and operational scaling. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 10.62, though analysts anticipate it won’t be profitable this year.
The company’s membership in the Russell 1000® Index is contingent upon its presence in the broader Russell 3000® Index and will be reassessed annually. The Russell indexes, managed by FTSE Russell, serve as benchmarks for investment strategies and are used by investment managers and institutional investors for index funds. As of June 2024, approximately $10.6 trillion in assets were benchmarked against Russell U.S. indexes.
AST SpaceMobile is focused on addressing connectivity gaps for the five billion mobile subscribers worldwide and aims to provide broadband to those who are currently without access. The company’s technology is designed to operate directly with standard, unmodified mobile devices and cater to both commercial and government applications.
The news of AST SpaceMobile’s inclusion in the Russell 1000® Index is based on a press release statement and comes as a significant acknowledgment of the company’s market capitalization growth and its potential influence in the space-based cellular broadband sector.
In other recent news, AST SpaceMobile reported its Q1 2025 earnings, revealing mixed results. The company posted an earnings per share (EPS) of -$0.20, which was better than the forecasted -$0.26, but its revenue of $7.18 million fell short of the expected $10.94 million. Additionally, AST SpaceMobile ended the quarter with $874.5 million in cash, a significant increase from the previous quarter. Analysts from Scotiabank maintained their Sector Outperform rating for the company, citing positive developments with Blue Origin, while Cantor Fitzgerald upheld an Overweight rating with a $30.00 price target, despite concerns about increased costs. The company announced changes to its corporate governance, with stockholders approving an amendment allowing for the removal of directors by written consent. Furthermore, AST SpaceMobile has provided its first full-year revenue forecast and reported progress in satellite deployments, with plans to launch a commercial service in early 2026. The company also secured incremental bookings in the Defense sector and for gateway equipment, indicating a growing business footprint.
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