Bank of Nova Scotia Invests $1.33 Million in AST SpaceMobile, Inc. $ASTS

Bank of Nova Scotia bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 16,033 shares of the company’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Calton & Associates Inc. lifted its holdings in AST SpaceMobile by 0.8% during the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after acquiring an additional 104 shares during the period. Investmark Advisory Group LLC increased its position in shares of AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after purchasing an additional 120 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after purchasing an additional 142 shares during the period. Larson Financial Group LLC raised its stake in shares of AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the period. Finally, Capital Advisors Ltd. LLC raised its stake in shares of AST SpaceMobile by 6.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,638 shares of the company’s stock worth $219,000 after purchasing an additional 164 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $53.03 on Thursday. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $20.58 billion, a PE ratio of -29.79 and a beta of 2.69. AST SpaceMobile, Inc. has a twelve month low of $36.08 and a twelve month high of $133.86. The company has a 50-day moving average price of $82.85 and a two-hundred day moving average price of $87.82.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The business had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The business’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same period last year, the firm earned ($0.20) EPS. Equities analysts forecast that AST SpaceMobile, Inc. will post -1.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research report on Friday, May 29th. William Blair reissued a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. UBS Group decreased their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. Finally, Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $87.60.

Insider Buying and Selling at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the transaction, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the transaction, the director owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,809 shares of company stock valued at $9,748,492 in the last 90 days. 20.89% of the stock is currently owned by company insiders.

Key Stories Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile scheduled the launch of BlueBird satellites 11, 12 and 13 for August 5 aboard a SpaceX Falcon 9 from Cape Canaveral. A successful launch would expand the company’s planned direct-to-smartphone network and remains an important near-term catalyst. AST SpaceMobile Announces Launch Date for BlueBird Satellites 11, 12, and 13
• Positive Sentiment: Vodafone said the AST partnership is valuable and expects U.K. beta testing to begin in early 2027 once approximately 45 satellites are available. The comments reinforce the commercial potential of ASTS’s network and its relationship with a major telecom operator. ASTS Stock Breaks 3-Day Slide: Vodafone Partnership and Early-2027 Beta Launch
• Neutral Sentiment: Scotiabank upgraded ASTS from “sector underperform” to “sector perform,” citing partnerships and upcoming launches. However, its $50.80 price target remains below the recently cited $53.03 price, indicating limited near-term upside. Scotiabank AST SpaceMobile Rating Update
• Neutral Sentiment: Brokerages give AST SpaceMobile an average “Hold” rating, while analysts describe the valuation as difficult to assess after the substantial decline. Retail investors remain more bullish, arguing the shares are undervalued. AST SpaceMobile Given Average Hold Recommendation
• Negative Sentiment: Amazon’s planned satellite constellation raises competitive pressure across the satellite-connectivity market. Greater competition could increase the risk of pricing and margin compression for pure-play operators such as AST SpaceMobile. Amazon’s Satellite Push Raises the Stakes for SpaceX and AST SpaceMobile
• Negative Sentiment: ASTS has been caught in a broad correction among space stocks, with investors reassessing elevated valuations, future margins and execution risks. A law firm is also investigating potential investor claims, adding another source of uncertainty. Space Stocks Face Broad Selloff

AST SpaceMobile Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.