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

Key Points

• Bank of Nova Scotia acquired 16,033 AST SpaceMobile shares worth approximately $1.33 million in the first quarter, while institutional investors collectively own 60.95% of the company.
• AST SpaceMobile insiders sold 105,809 shares valued at about $9.75 million over the past three months, including substantial reductions by a director and the chief technology officer.
• The company missed quarterly earnings and revenue expectations despite strong year-over-year revenue growth. Analysts maintain an average “Hold” rating, while upcoming satellite launches and telecom partnerships remain potential catalysts amid competitive and valuation concerns.

Bank of Nova Scotia bought a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 16,033 shares of the company's stock, valued at approximately $1,329,000.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its holdings in shares of AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company's stock valued at $27,000 after acquiring an additional 327 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile during the third quarter worth approximately $29,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Julio A. Torres sold 15,000 shares of the company's 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 sale, the director owned 43,239 shares in the company, valued at $3,300,865.26. This represents a 25.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the sale, the chief technology officer owned 34,750 shares of the company's stock, valued at approximately $3,348,857.50. This represents a 53.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 105,809 shares of company stock worth $9,748,492. Corporate insiders own 20.89% of the company's stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $53.03 on Thursday. AST SpaceMobile, Inc. has a 52 week low of $36.08 and a 52 week high of $133.86. 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 business has a 50 day moving average price of $82.85 and a 200-day moving average price of $87.82. The company has a market cap of $20.58 billion, a PE ratio of -29.79 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its 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). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company had revenue of $14.73 million for the quarter, compared to analysts' expectations of $39.01 million. During the same period in the previous year, the firm earned ($0.20) EPS. The firm's quarterly revenue was up 1952.2% on a year-over-year basis. Equities analysts anticipate that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current fiscal year.

AST SpaceMobile News Roundup

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research report on Thursday, April 9th. William Blair restated a "market perform" rating on shares of AST SpaceMobile in a report on Friday, May 29th. B. Riley Financial raised shares of AST SpaceMobile from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research note on Friday, July 17th. Scotiabank upgraded shares of AST SpaceMobile from a "sector underperform" rating to a "sector perform" rating and set a $50.80 price objective for the company in a report on Wednesday. Finally, UBS Group reduced their price objective on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $87.60.

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.

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