ASTS Stock Logs Best Day In Nearly A Month — BlackRock’s Stake Takes Spotlight After Bruising Selloff

BlackRock disclosed a 5.4% stake comprising 16.1 million shares as of Sept.30, worth $676 million at Tuesday’s close.

• The holding exceeded the 10.6 million shares BlackRock owned in March 2025 by about 5.5 million shares.
• Swedbank and Vestgen increased their positions by 38% and 42%, respectively, while Spear Advisors reduced its holding by 64%.
• AST recently secured Brazil spectrum approvals, signed agreements with four regional operators and outlined plans for four ground gateways.

Shares of AST SpaceMobile (ASTS) rose 6% on Tuesday, recovering from a selloff that pushed shares to a 52-week low last week, while BlackRock’s disclosure of a 5.4% stake brought its institutional ownership back into focus.

ASTS stock closed at $41.96 on Tuesday, leaving shares down 29% in October and on track for their worst month since July and a second straight monthly decline. The stock hit a 52-week low of $36.72 last Friday.

BlackRock Increases ASTS Stake Over Time

BlackRock disclosed a 16.1 million-share holding in AST SpaceMobile in a fresh filing on Tuesday, putting its stake worth $676 million as of Sept.30. The asset manager’s investment has expanded since March 2025, when an earlier disclosure showed 10.6 million shares, representing a 4.7% stake. Its latest reported holding is about 5.5 million shares above that level.

BlackRock reported sole voting power over about 14.9 million shares and sole authority to dispose of the full position. The asset manager’s filings also showed steady additions earlier this year, with its position rising about 5% to 15.3 million shares at June-end from 14.5 million at March-end.

Other institutions also adjusted their exposure during the third quarter, according to Fiscal.ai. Swedbank AB increased its holding 38% to about 168,000 shares, while Vestgen Advisors added 42% to bring its position to 11,800 shares. BOKF, NA expanded its holding to about 16,100 shares from 770.

Meanwhile, Spear Advisors trimmed its position 64% to 32,700 shares.

ASTS Advances Rollout As Wall Street Weighs Its Value

The rally followed fresh progress in Brazil, where AST secured authorization for 30 MHz of S-band spectrum and signed agreements with four regional operators supporting secondary use of up to 20 MHz in the 700 MHz band. The company also plans four ground gateways to connect its satellites with local mobile networks.

“We are bringing together the spectrum, operator relationships and ground infrastructure to deliver a third layer of connectivity across Brazil,” CEO Abel Avellan said. The expansion comes as AST targets initial, intermittent service in five markets, including the U.S., before year-end. Continuous coverage will require additional satellites.

Scotiabank recently upgraded AST to ‘Sector Outperform’, calling its valuation after the sharp selloff “reasonably attractive, if not a bargain.” The firm said SpaceX’s ambitions to become a global carrier make AST’s wholesale 5G model valuable to terrestrial operators seeking to protect their businesses.

Valuation concerns persist, however. Veteran financial journalist Herb Greenberg recently highlighted an enterprise value of 140 times trailing revenue despite the stock’s steep decline. “Even with that, it’s still priced as if it’s the hottest thing ever, especially when compared with its more established Satcom peers,” Greenberg said.

How Do Retail Traders Feel About ASTS?

On Stocktwits, retail sentiment for ASTS flipped to ‘bearish’ from ‘bullish’ levels a week ago amid ‘extremely high’ message volume.

One user highlighted BlackRock’s holding above 16 million shares and pointed to an increase from its previously reported position.

View this Stocktwits post

Another user said, “I completely trust our management team.” 

View this Stocktwits post

ASTS stock has declined 42% year-to-date.

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