New York, January 8, 2026, 06:26 EST — Premarket
AST SpaceMobile (ASTS) shares were little changed in premarket trade on Thursday, after sliding about 12% in the prior session to $85.73 following a Scotiabank downgrade.
The call is a reminder that ASTS is trading on big expectations, not current sales. For the next session, traders are likely to keep treating analyst notes and rollout timing as the main price drivers.
Scotiabank cut AST SpaceMobile to “Sector Underperform” from “Sector Perform” and set a $45.60 price target, arguing the stock had hit “irrational levels” after a surge that left the company valued for a fast commercial ramp despite having no retail customers yet. Analyst Andres Coello also pointed to the heavy lift ahead to reach continuous service — roughly 50 satellites — and said investors could be waiting until 2028 or 2029 for tangible equity free cash flow (cash left after spending), while Starlink keeps widening its lead in satellites in orbit. Investing.com
Wednesday’s session was volatile: ASTS traded between $83.91 and $95.34, leaving the low end of that range in focus as a near-term support level for momentum traders.
Even after the drop, the stock is still up roughly 300% over the past 12 months, and a growing share of analysts now carry Sell ratings as valuation screens start to matter again in high-beta space names, Barron’s reported.
AST SpaceMobile is developing a “direct-to-cell” satellite broadband network — technology meant to connect everyday smartphones in areas without tower coverage, without requiring special satellite phones or add-on gear. investors.ast-science.com
Still, the model is capital-intensive, and delays can get expensive. AST has raised funding through large convertible note offerings, a route that can pressure the stock if investors worry about future dilution or a longer wait for cash generation.
What comes next is less about headlines and more about evidence: signs of paying-user adoption, progress toward steady coverage, and the next quarterly update. Nasdaq’s earnings calendar flags March 2 as the next expected earnings date, though the company has not confirmed a schedule.
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