AST SpaceMobile shares jump on carrier test wins

AST SpaceMobile stock rose 10.5% in morning trading Tuesday following two carrier distribution announcements.

The company gained attention after a U.S.-Japan bilateral technology cooperation statement highlighted its partnership with Rakuten. The statement incorporated AST's low-Earth-orbit network into an Indo-Pacific digital connectivity initiative.

TELUS announced it completed the first integration test between its wireless network and AST's space-based satellite infrastructure. The test included broadband data, voice calls, and text messaging sent directly between satellites and standard smartphones. The company expects commercial availability within the next year without requiring special equipment.

William Blair maintained its Market Perform rating while reducing its 2027 revenue estimate to $459 million from $752 million. The firm cited satellite launch delays and slower BlueBird II deployment as reasons for the adjustment.

B. Riley downgraded the stock to Neutral from Buy on October 2, cutting its price target to $65.

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