AST SpaceMobile’s 800 MHz Push and FCC Tests Could Be A Game Changer For ASTS

AST SpaceMobile (ASTS) received a 30-day FCC permit to test its 800 MHz spectrum on unmodified devices, tied to its T-Mobile partnership. The company reported a sixth consecutive EPS miss and a 137% jump in capital expenditures in Q2. Despite a $1.3B revenue backlog, Wall Street maintains a Hold rating amid volatility and elevated short interest.

Rocket Lab (RKLB) reported Q2 2026 revenue of $234M, up 62% YoY, with 77.5% from its Products segment. Despite this, its stock dropped 8% due to Neutron rocket delays. AST SpaceMobile (ASTS) has no service revenue yet, but $31.5M in Q2 revenue from other activities. Both companies are trading at high valuations.

AST SpaceMobile (ASTS) shares rose 2% after Rakuten announced a joint venture to operate satellites for direct-to-mobile service in Japan, challenging SpaceX Starlink-backed rivals. The JV aims for nationwide coverage by fiscal 2027, with Rakuten considering a global rollout. ASTS stock has gained 45% over the past year, despite recent losses. Rakuten CEO Hiroshi Mikitani emphasized the importance of Japanese capital in the project, which is also bidding for Japan's J-LEO satellite communication

Crossroads Capital's Q2 2026 investor letter highlights AST SpaceMobile (ASTS), a satellite communication company. ASTS closed at $66.43, with a 12.25% one-month return and 47.69% 52-week gain. The company faced a $125M satellite loss but secured FCC approval for U.S. commercial service. Crossroads noted ASTS's transition from R&D to operational scale-up, with 42 satellites in production.

SpaceX's Starlink constellation surpassed 11,000 satellites, prompting the U.S. Space Force to fund alternatives. Five companies—L3Harris (LHX), AST SpaceMobile (ASTS), Rocket Lab (RKLB), Viasat (VSAT), and Iridium (IRDM)—are positioned to benefit. L3Harris reported $5.9B Q2 revenue, up 8% YoY, and raised EPS guidance. AST SpaceMobile saw $31.52M Q2 revenue, up 2,626.6% YoY. Rocket Lab's Q2 revenue hit $234M, up 62% YoY. Viasat's shares rose 104.2% YTD. Iridium is set for an $8B acquisition by R

Space stocks showed mixed performance. SpaceX (SPCX) fell 3.5% after a 35% weekly gain, driven by AI revenue growth. AST SpaceMobile (ASTS) dropped 3% post-earnings. Intuitive Machines (LUNR) declined 1.6% after a revenue miss. Rocket Lab (RKLB) rose 1.1% with 62% revenue growth and a record backlog. Sector weakness appears driven by rotation, not broad selloff.