10 Firms Begin Trading Week With Impressive Gains

4. AST SpaceMobile Inc. (NASDAQ:ASTS)

Shares of AST SpaceMobile increased by 17.47 percent on Monday to finish at $31.14 apiece as analysts pointed to T-Mobile’s advertisement at the Superbowl as having perked up buying appetite.

Last night’s Superbowl game showed multiple advertisements run by T-Mobile on its new offer to let anyone in the US—not just its own customers—participate in its new direct-to-cell collaboration with SpaceX’s Starlink service.

While T-Mobile rose 3.89 percent on Monday, the optimism created a ripple effect in satellite companies, including ASTS.

In other news, ASTS recently secured the green light of the Federal Communications Commission that would enable the firm to test its five commercial BlueBird satellites to support voice, full data, and video applications and other native cellular broadband capabilities for mobile services giants AT&T and Verizon.

Last week, Cantor Fitzgerald analyst Colin Canfield initiated an “overweight” rating on the satellite communications firm and set a price target of $30 within a year.