AST SpaceMobile, Inc. (NASDAQ:ASTS) stock traded lower Wednesday, extending Tuesday's decline after Piper Sandler analyst Alexander Potter downgraded the stock and lowered his price forecast.

Potter cut his rating from Overweight to Neutral and reduced his price forecast from $98 to $54.

Launch Delays And SpaceX Competition Raise Concerns

Potter expressed concerns about AST SpaceMobile's satellite launch schedule for 2026 and 2027.

He also pointed to growing competition in the direct-to-cell market, which allows satellites to connect directly to standard mobile phones.

Space Exploration Technologies Corp. (NASDAQ:SPCX) is expanding its presence in the market, including through a reported $8 billion mobile spectrum purchase.

Potter warned that SpaceX could restrict launch capacity for companies such as AST SpaceMobile, lower service prices or introduce competing devices.

However, he remains optimistic about AST SpaceMobile's prospects beyond 2027. He also noted that stronger competition could encourage mobile operators to seek alternative satellite providers.

Piper Sandler Cuts Satellite And Revenue Expectations

Potter lowered his satellite deployment forecast to 18 satellites by the end of 2026, down from 45. He also reduced his 2027 forecast to 60 satellites from 68.

In addition, he pushed back the expected launch of U.S. commercial service from the fourth quarter of 2026 to the second half of 2027.

Potter also lowered his estimated monthly service price to $12 from $15.

These changes reflect expectations for slower satellite deployment, delayed service revenue and increased pricing pressure.

Technical Analysis

AST SpaceMobile stock remains in a bearish technical trend.

The stock trades 26.3% below its 20-day simple moving average (SMA), 31.1% below its 50-day SMA and 46.9% below its 200-day SMA.

Its relative strength index (RSI) stands at 27.43, below the 30 level typically associated with oversold conditions.

While the reading suggests selling pressure may be stretched, it does not guarantee a recovery.

The stock also remains in a death cross pattern, with its 50-day SMA below its 200-day SMA. The pattern formed in July and signals longer-term weakness.

The immediate resistance level stands at $57.78, near the 20-day SMA. Meanwhile, support sits around $47.57, although the reported share price has already fallen below that level.

ASTS Price Action

ASTS Price Action: AST SpaceMobile shares were down 9.21% at $42.73 at the time of publication on Wednesday. The stock is trading at a new 52-week low, according to market data.