AST SpaceMobile, Inc. (NASDAQ:ASTS) stock fell nearly 7% Thursday as broader market weakness and concerns about rising debt across the space industry weighed on investor sentiment.

The decline followed reports of a major financing plan by SpaceX. Meanwhile, the Nasdaq fell 0.57%, and the S&P 500 declined 0.34%.

SpaceX's $40 Billion Debt Plan Raises Concerns

Space Exploration Technologies Corp. (NASDAQ:SPCX) is seeking $40 billion in financing to purchase artificial intelligence chips from NVIDIA Corporation (NASDAQ:NVDA).

According to a media report Wednesday, SpaceX is considering $10 billion in bank loans and $30 billion in investment-grade debt. Apollo Global Management, Inc. (NYSE:APO) is expected to lead the financing, which could close in 2027.

The proposed borrowing has raised concerns about rising debt and capital requirements across the space industry.

Technical Analysis: Bearish Trend Persists

AST SpaceMobile remains below its major moving averages, signaling continued weakness.

The stock trades about 5.3% below its 20-day simple moving average (SMA) of $60.07 and 29.7% below its 200-day SMA of $80.93.

Additionally, its 50-day SMA remains below its 200-day SMA following a death cross in July. This pattern signals a bearish long-term trend.

However, the moving average convergence divergence (MACD) indicator remains above its signal line. The positive histogram suggests selling momentum may be easing.

Key resistance stands near $65.50, while immediate support sits around $55.50.

Analyst Outlook

AST SpaceMobile carries a Hold consensus rating, with an average analyst price forecast of $82.83. Recent analyst actions include:

• B. Riley Securities: Downgraded the stock to Neutral and lowered its price forecast to $65 on Oct. 2.
• Berenberg: Initiated coverage with a Buy rating and a $92 price forecast on Sept. 2.
• UBS: Maintained a Neutral rating and lowered its price forecast to $78 on Aug. 11.

ASTS Stock Price Activity: AST SpaceMobile shares were down 6.61% at $56.64 at the time of publication on Thursday, according to market data.