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

Barclays downgraded AST SpaceMobile (NASDAQ:ASTS) by two notches on Friday, causing shares to drop nearly 5% in early premarket trading. ASTS was lowered to an investment rating of "underweight" from "overweight" at the equity research firm. Analyst Mathieu Robilliard justified the move by saying that the ...