AST SpaceMobile’s equity has become a study in contrasts. After vaulting to an all-time high of €114.60 in late May, the shares have taken a sharp U-turn, sliding 21% in seven days to €90.40. Another snapshot shows a closing price of €93.10, representing an 18% weekly loss. The correction is brutal, yet two of the world’s largest asset managers are piling in. BlackRock boosted its stake by 22% to 14.52 million shares, while State Street increased its holdings by 41%. Institutional money is sending a signal that the selloff may be overdone.
The trigger for the rout came not from within AST SpaceMobile’s own operations, but from a sector-wide jolt. Oppenheimer analysts downgraded AT&T, warning that low-earth-orbit (LEO) satellite networks—specifically SpaceX’s Starlink—pose a disruptive threat to traditional broadband providers. The research note sparked a wave of selling across U.S. telecom stocks, dragging down AT&T and Verizon alike. AST SpaceMobile, despite building its own direct-to-device constellation, was sucked into the downdraft as investors began questioning how quickly satellite economics can translate into hard revenue at scale.
The company’s first-quarter results did little to steady nerves. Revenue came in at $14.7 million, far below the $37.5 million analysts had penciled in. Earnings per share missed by a wide margin: a loss of $0.66 versus the expected $0.21. Management attributed the shortfall to the timing of gateway installations and government contract milestones. Yet the outlook for 2026 remains intact: AST SpaceMobile still targets $150 million to $200 million in revenue, underpinned by a commercial pipeline exceeding $1.2 billion. With roughly $3.5 billion in cash on hand, the company says it can fully fund the construction of about 90 satellites.
Wall Street is divided on the stock’s prospects. Of eleven analysts polled, the consensus is a Hold, with an average price target of around $82—more than 30% below current levels. Roth Capital stands out with a $108 target, dismissing the Q1 hiccup as “noise.” On the bearish side, UBS sets a target of $80, and Barclays goes even lower at $65. The wide range underscores the uncertainty surrounding execution in the nascent direct-to-device market.
Should investors sell immediately? Or is it worth buying AST SpaceMobile?
Regulatory progress offers a counterweight. In the first quarter, the FCC granted AST SpaceMobile authorization for a commercial network of up to 248 satellites. The company’s partner ecosystem now spans nearly 60 global mobile network operators. That foundation, together with the cash war chest, provides a buffer against near-term volatility.
All eyes, however, are on the launch pad. After the failure of BlueBird 7 in April—which had to be deorbited—the company is preparing to send three new satellites, BlueBirds 8, 9 and 10, into orbit aboard a SpaceX Falcon 9 rocket in mid-June. Two of the spacecraft have already arrived at Cape Canaveral; the third is en route. AST SpaceMobile now says it can manufacture up to six fully equipped BlueBirds per month, with a target of 45 to 60 satellites in orbit by year-end. The mid-June launch will be the clearest test yet of whether the technology can deliver on its promise.
For now, the stock remains a high-octane play. Over the past twelve months, it has swung from €25.20 to above €114 and back again. The next few weeks will determine whether the correction is a buying opportunity or a prelude to further pain.
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