On August 18, AST SpaceMobile, Inc. declined 5.07% in regular trading, trading at $67.265/share, with turnover of $52.90 million.

The decline was driven by broad weakness across the space and non-traditional telecom sector, with SpaceX falling 3.37%, Iridium down 2.04%, and Lumen Technologies losing 2.44%, creating sector-wide drag. Additionally, the stock continued to face overhang from its Q2 earnings report released on August 10, which showed adjusted EPS of -$0.35, missing the consensus estimate of -$0.28 by 25%, while revenue of $31.52 million fell short of the $34.98 million expected. Bank of America subsequently cut its price target from $95 to $80.

Despite the earnings shortfall, the company raised its full-year revenue guidance to $150-200 million and reported a backlog of approximately $1.3 billion in contracts. However, SpaceMobile commercial services have yet to generate material revenue, with current income still primarily from gateway equipment deliveries and U.S. government project milestones.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)