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ASTS Stock Drops to $63.34 as Convertible Debt Reprices 31.6% Lower in July

GateNews
Stocks
ASTS10.32%
According to StockAnalysis, AST SpaceMobile (ASTS) closed at $63.34 on July 21, 2026, down 52.7% from its 52-week high of $133.86. The decline accelerated after the company priced $1 billion in convertible debt at an initial conversion price of $79.57 in July, a 31.6% decrease from the $116.30 strike set in February 2026. Both tranches are now out of the money against the current stock price. Analysts' 12-month price targets range from $41.20 to $108, with a consensus mean of $83.32 and a Hold rating. The market's concern centers on funding cost rather than technology; Q1 2026 revenue was $14.7 million against full-year guidance of $150–$200 million.
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