AST SpaceMobile Inc. (NASDAQ:ASTS) shares surged 3.85% to $73.40 after the bell on Wednesday following a Securities and Exchange Commission filing in which Japanese mobile network operator Rakuten Mobile Inc. disclosed that it had completed its pre-planned share sale, offloading approximately 4.5 million shares between Apr. 27 and May 5.

According to the SEC filing, shares were sold at prices ranging from $65.32 to $76.30. Rakuten continues to hold a 5.3% ownership stake in the satellite-to-phone company, amounting to about 15.5 million shares in total beneficial ownership.

Rakuten’s total proceeds from the sale amounted to approximately $392.3 million.

What Investors Need To Know

The April 28 proxy showed that CEO Abel Avellan received $14.2 million in 2025 compensation, all in performance-based stock. A "satellites in orbit" target due in February 2026 was not achieved, which resulted in that portion being forfeited. A connectivity-standards goal paid out at 75%, while a revenue target paid 95% after revenue of $70.9 million fell slightly short of the $75 million goal.

In its last quarter reported in March, AST SpaceMobile posted revenue of $54.30 million, exceeding analyst estimates of $41.21 million by 31.79%.

ASTS is set to report earnings on May 11. Analysts expect a loss of $0.21 per share on $36.91 million in revenue.

Trading Metrics, Technical Analysis

AST SpaceMobile has a market capitalization of $27.43 billion, a 52-week high of $129.87, and a 52-week low of $22.47.

The Relative Strength Index (RSI) of ASTS stands at 41.83.

The mid-cap stock has gained 181.82% over the past 12 months, but it is down 15.32% year to date.

Currently, the stock is positioned at about 45% of its 52-week range.

Price Action: AST SpaceMobile closed the regular session up 10.66% at $70.68, according to Benzinga Pro.

Benzinga's Edge Stock Rankings indicate that ASTS stock is experiencing a negative price trend across all time frames.

Image by PJ McDonnell via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.