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ASTS Stock: Rakuten Sells Millions, What's Next?
11 May
Summary
- Rakuten Mobile sold 4.5 million ASTS shares for $392.3 million.
- AST SpaceMobile missed a 'satellites in orbit' goal.
- Stock trades near its 200-day SMA, with key levels watched.
AST SpaceMobile (ASTS) stock is currently experiencing stability, with Rakuten Mobile having completed a planned sale of roughly 4.5 million shares between April 27 and May 5, 2026. These sales generated approximately $392.3 million. Rakuten Mobile still holds a 5.3% stake in AST SpaceMobile following these transactions.
Investor attention is also focused on execution risks, as AST SpaceMobile did not achieve its 'satellites in orbit' goal by the end of February 2026. This missed target impacted the CEO's performance payout. However, the company did achieve 75% of its connectivity-standards goal and 95% of its revenue goal, bringing in $70.9 million.
Technically, ASTS is in a "repair" phase, trading below its 50-day and 100-day simple moving averages (SMAs), which may act as resistance. The stock is holding above its 200-day SMA ($74.07), a critical level for maintaining the broader uptrend. The relative strength index (RSI) is at 47.56, indicating a neutral momentum zone.
AST SpaceMobile is developing a space-based cellular broadband network using its BlueBird satellites to connect directly with standard mobile devices, aiming to extend coverage beyond terrestrial towers. The company's business model makes it sensitive to timeline milestones and any perceived imbalances in share supply and demand.
