AST SpaceMobile Inc ASTS Shares fell on Tuesday. The stock rose sharply in recent sessions after the company reported second-quarter financial results and said it was on track to launch five satellites in early September.

What happened: AST SpaceMobile announced last week that its first five commercial satellites, called BlueBirds, are scheduled to be launched into orbit during the first half of September. The company expects that nationwide, non-continuous service will initially be available to AT&T and Verizon beta test users after the service is activated in orbit in the coming months.

The BlueBird satellites carry the largest commercial communications assets ever deployed in low Earth orbit. The company said the upcoming launch represents a major step forward in AST SpaceMobile’s mission to provide seamless cellular broadband connectivity to billions of mobile users worldwide.

“We are at a pivotal point for AST SpaceMobile. The arrival of our first five commercial satellites at the launch site marks the culmination of years of relentless innovation and perseverance in partnership with industry leaders such as AT&T, Google, Verizon, Vodafone and Rakuten, to name a few,” said Abel AvellanFounder, Chairman and CEO of AST SpaceMobile.

“The upcoming launch into orbit is an important step toward fulfilling our mission to eliminate dead zones and bring space-based cellular broadband connectivity to communities around the world.”

AST SpaceMobile shares are up over 175% in the past month and nearly 550% year-to-date.

Scotiabank analyst Andres Coello maintained his “Sector Outperform” rating for AST SpaceMobile on Monday and raised his price target from $21.10 to $28.

It’s worth noting that the stock is popular among retail investors and has been trending on various social sites over the past few weeks. AST SpaceMobile was among the top 10 trending tickers on Reddit’s r/WallStreetBets earlier in the week and the space stock made it into Benzinga’s Stock Whisper Index late last week. It was also among the top trending tickers on Stocktwits at the time of publication.

See also: Benzinga’s Stock Whisper Index: 5 Stocks Investors Are Secretly Watching But Aren’t Talking About Yet

Last Friday, AST SpaceMobile announced that a limited number of seats are available for qualified retail shareholders to attend the launch of the BlueBird 1-5 mission at the Kennedy Space Center Visitor Complex. The company said the first five commercial satellites have arrived at the launch facility in Cape Canaveral, Florida, and are currently making final preparations.

ASTS price promotion: According to Benzinga Pro, AST SpaceMobile shares were down 16% at $32.41 at the time of writing.

Photo: courtesy of AST SpaceMobile.