AST SpaceMobile Jumps After Hours as Rakuten Completes Share Sale
AST SpaceMobile shares surged nearly 4% in after-hours trading Wednesday after Benzinga reported that Japanese wireless carrier Rakuten Mobile had formally disclosed the completion of a scheduled share divestiture through an SEC filing.
Rakuten Exits 4.5 Million Shares for $392 Million
The filing revealed that Rakuten Mobile offloaded roughly 4.5 million AST SpaceMobile shares over a roughly ten-day window spanning late April through early May. Individual transaction prices ranged from $65.32 to $76.30 per share. Total gross proceeds from the block came in at approximately $392.3 million. Despite the significant disposal, Rakuten retains a 5.3% stake in the satellite-to-phone company. That residual position represents around 15.5 million shares in total beneficial ownership, leaving the Japanese carrier as a meaningful long-term holder.
Why the Sale Lifted Rather Than Punished the Stock
The after-hours AST SpaceMobile after-hours move higher may initially appear counterintuitive. Large insider or strategic sales often weigh on a stock. However, Rakuten had flagged the divestiture as pre-planned, removing the element of surprise. Investors appeared to treat the disclosure as an overhang being cleared rather than a vote of no-confidence. ASTS had already gained more than 10% during the regular Wednesday session, closing at $70.68, before extending those gains to $73.40 after the bell.
Background: A Volatile Year for ASTS
AST SpaceMobile has had a turbulent twelve months. The stock hit a 52-week high of $129.87 before retreating to a low of $22.47, leaving it positioned near the midpoint of that range heading into May. Over the full trailing year the shares are still up roughly 182%, though 2026 year-to-date performance remains negative at around minus 15%. The company’s market capitalisation stands near $27.4 billion. Its Relative Strength Index reading below 42 suggests the stock has not yet returned to overbought territory.
Earnings on Deck as Revenue Beat Sets the Stage
The after-hours move arrives just days before AST SpaceMobile is scheduled to report first-quarter 2026 earnings on May 11. Analysts are forecasting a per-share loss of $0.21 on revenue of approximately $36.9 million. That bar may be achievable given the company’s most recent quarterly result. In its last reported period, AST SpaceMobile posted revenue of $54.3 million, clearing the consensus estimate of $41.2 million by nearly 32%. Whether the company can sustain that momentum will be the central question when management addresses investors next week.
Read Next: What Is AST SpaceMobile and How Does Its Satellite Phone Network Work?
