Barclays cuts AST SpaceMobile's rating by two notches on expensive valuation concerns (ASTS:NASDAQ)

Group 1 - Barclays downgraded AST SpaceMobile (NASDAQ:ASTS) by two notches, leading to a nearly 5% drop in shares during early premarket trading [4] - The investment rating for ASTS was lowered from "overweight" to "underweight" by the equity research firm [4] - Analyst Mathieu Robilliard provided justification for the downgrade, indicating concerns regarding the company's performance [4]