AST SpaceMobile (NASDAQ: ASTS) shares surged nearly 10% to $61.22 on Wednesday, marking the stock’s best single-day performance in approximately one month.
The rally was fueled by two catalysts: a bullish initiation from investment firm Berenberg and a notable insider stock purchase by early investor and board member Adriana Cisnero.
According to a regulatory filing, Cisnero purchased approximately 10,000 shares of AST SpaceMobile, signaling confidence in the company’s trajectory from someone with deep institutional knowledge.
Berenberg simultaneously initiated coverage on four major space economy players, assigning a ‘Buy’ rating to AST SpaceMobile, Rocket Lab, Planet Labs, and HawkEye 360.
The broad endorsement comes after a punishing stretch for the sector, with those four stocks declining by an average of 53% between late May and the end of August.
That sell-off coincided with a market recalibration following SpaceX’s high-profile initial public offering, which had previously driven elevated valuations across the space industry.
Berenberg set a price target of $92 for AST SpaceMobile, implying potential upside of roughly 65% from Tuesday’s closing price, reflecting strong expectations for its direct-to-cell satellite communications network.
Revenue projections support that optimism, with sales forecast to reach approximately $650 million in 2027 before expanding to $1.76 billion in 2028, with much of that secured through commitments from major wireless providers.
The analyst note pointed to falling launch costs as a key structural tailwind, with Berenberg stating those lower costs have driven the space economy past $500 billion in 2025 and put it on track to exceed $1 trillion by 2030.
Berenberg expressed a preference for companies with “vertically integrated launch and differentiated/sovereign constellation capability that cannot easily be replicated,” according to excerpts from the note published by TheFly.
Planet Labs received a ‘Buy’ rating and a $25 price target from Berenberg, implying approximately 30% upside from its Tuesday close, as the firm highlighted the company’s positioning within a “rapidly growing investable universe.”
Rocket Lab was assigned an $83 price target, representing roughly 33% upside from its Tuesday close, with the company’s revenue projected to approach $1 billion in 2026, up from around $600 million in 2025.
HawkEye 360, the defense-focused satellite intelligence firm, received a $24 price target and is expected to generate $217 million in revenue in 2026.
Retail sentiment on Stocktwits ranged from “extremely bullish” to “neutral” across the four names, accompanied by normal message volumes, reflecting a cautious but recovering investor mood.
Year-to-date performance across the group remains mixed, with HawkEye 360 down 36%, Rocket Lab off 10.4%, AST SpaceMobile lower by 13.7%, and Planet Labs modestly higher by 4%.
