AST SpaceMobile (NASDAQ: ASTS) shares opened at $67.36 on Friday and climbed approximately 3% in early trading after the company announced it had expanded satellite network integration testing across multiple European markets.

The stock remains below both its 50-day moving average of $76.79 and its 200-day moving average of $86.31. Its 12-month range spans from $36.08 to $133.86.

Expanded European Network Testing

Testing is now underway in the UK, Ireland, France, Germany, Spain, Romania, the Czech Republic, and Ukraine. AST SpaceMobile is collaborating with Vodafone, Orange, Telefónica, and Deutsche Telekom to integrate its space-based service with existing ground mobile networks.

The European push comes as the direct-to-device satellite market intensifies globally. SpaceX's Starlink is expanding its own cellular service through a partnership with T-Mobile in the United States, and Lynk Global is pursuing similar markets. AST's distinguishing approach is its focus on delivering connectivity to standard, unmodified smartphones rather than requiring specialized hardware.

The company is also leveraging Satellite Connect Europe, its joint venture with Vodafone, which provides open-access direct-to-device satellite connectivity to European mobile operators. AST noted that all testing activities remain subject to regulatory approval.

Earlier in the week, AST confirmed it had commenced direct-to-cellular operations in Japan through a partnership with Rakuten Mobile, adding another major market to its growing commercial footprint.

"The European campaign builds on AST SpaceMobile's growing commercial momentum worldwide," the company said. AST SpaceMobile works with nearly 60 mobile network operators globally, covering over 3 billion existing subscribers.

Q2 Earnings Due Monday

AST is scheduled to report Q2 fiscal 2026 results after market close on Monday, August 10. Wall Street expects revenue of $34.98 million, which would represent a 2,916% increase from the same quarter last year. Analysts also project an adjusted loss of $0.32 per share, narrowing from a $0.41 loss in Q2 2025.

The results will be closely watched as the company transitions from development-stage spending toward commercial service revenue, a shift that investors and analysts will be monitoring for signs of execution.

The previous quarter's results fell short of expectations. AST reported a loss of $0.66 per share against a consensus estimate of a $0.23 loss. Revenue came in at $14.73 million, well below the $39.01 million consensus.

Satellite Deployment and Insider Activity

On the hardware side, AST successfully launched BlueBird satellites 11, 12, and 13, adding capacity to its low-Earth orbit constellation. Beta services are expected to begin later this year.

Institutional investors own 60.95% of ASTS shares. In Q2, Castle Rock Wealth Management established a new position of 16,015 shares, valued at approximately $1.38 million.

Insider selling has been notable over recent months. CFO Andrew Martin Johnson sold 45,809 shares at $93.81 per share in June, reducing his position by 8.34%. Director Julio A. Torres sold 15,000 shares in May at $76.34 per share. In total, insiders have sold 105,809 shares worth approximately $9.75 million over the past 90 days.

Mixed Analyst Sentiment

Analyst ratings remain divided. Piper Sandler rates ASTS as overweight with a $100 price target. New Street Research has set a $106 target. William Blair maintains a market perform rating, while Weiss Ratings continues to hold a sell rating. The consensus sits at "Hold" with an average price target of $87.60.