10:50 AM EDT, 08/15/2024 (MT Newswires) -- (Updates with stock move in the headline and the first paragraph and B. Riley price target in the last paragraph.)

AST SpaceMobile ( ASTS ) shares rose 26% in recent Thursday trading after the company reported Q2 results

The company posted a net loss late Wednesday of $0.51 per diluted share, widening from a loss of $0.24 a year ago.

Two analysts polled by Capital IQ expected a loss of $0.22.

Revenue in the quarter ended June 30 was $900,000. No revenue was reported a year earlier.

Two analysts surveyed by Capital IQ expected $880,000.

On Thursday, B. Riley boosted its price target on AST SpaceMobile ( ASTS ) to $26 from $15 and maintained its buy Rating

Price: 26.25, Change: +5.44, Percent Change: +26.14