30 Stocks That Should Double in 3 Years

28. AST SpaceMobile Inc. (NASDAQ:ASTS)

Number of Hedge Fund Holders: 22

AST SpaceMobile Inc. (NASDAQ:ASTS) designs and develops a constellation of BlueBird satellites in the US. It provides a cellular broadband network in space to be accessible directly by smartphones for commercial use and other applications, as well as for government use. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage.

The MNO (Mobile Network Operator) partnership segment is central to AST SpaceMobile’s go-to-market strategy. AST SpaceMobile has established agreements with ~50 mobile network operators worldwide, which encompass ~3 billion existing subscribers. These partnerships include some of the largest telco providers globally, such as AT&T and Verizon in the US, Vodafone in the US and Turkey, and Rakuten in Japan.

AST SpaceMobile Inc. (NASDAQ:ASTS) recently achieved the STA (Special Temporary Authority) approval received from the FCC to commence service with AT&T and Verizon in the US. This allows for the connection and testing of the company’s Bluebird router with standard smartphones without requiring any specialized software or device updates. In March, UBS analyst Christopher Schoell raised the stock’s price target to $38 from $31, while maintaining a Buy rating.