AST SpaceMobile and AstraZeneca see stock movement amid market shifts

AST SpaceMobile shares closed up 2.4% at €52.00 following a rating downgrade by B. Riley. Analyst Mike Crawford lowered the stock from ‘Buy’ to ‘Neutral’ and reduced the price target from $85 to $65, citing increased competition in the satellite-based mobile service market, pricing uncertainties, and operational hurdles. The analyst also noted rising capital requirements and potential delays in rocket launches.

Despite the downgrade, AST SpaceMobile reported that its BlueBirds 14, 15, and 16 satellites have left their Texas production facility for Cape Canaveral, Florida, to prepare for orbital transport. Additionally, Executive Vice President and Chief Commercial Officer Wayne Thorsen was recently allocated Restricted Stock Units.

AstraZeneca shares rose 0.2% to 118.90 GBP during London trading. The company recently reported quarterly revenue of £11.46 billion, a 5.84% increase year-over-year, with earnings per share at £1.20. AstraZeneca is also expanding the availability of its breast cancer drug, Enhertu, in England.