AST SpaceMobile (ASTS +11.83%) develops constellations of low Earth orbit (LEO) satellites that help telecom companies -- like AT&T (T -0.19%) and Verizon (VZ -0.16%) -- expand their wireless networks to remote areas that their terrestrial towers can't reach. It's launched 13 of its BlueBird satellites so far, and 12 of them are currently in orbit.
But after closing at a record high of $133.09 per share on May 28, 2026, AST's stock dropped back to the low $60s. A major cause of that decline was its slower-than-expected expansion. Back in late 2025, it claimed it could have 45 to 60 satellites in orbit by the end of 2026. But after losing BlueBird 7 in orbit in April, it reduced that target to just 45 satellites. During its second-quarter report in July, it pushed back the 45-satellite target to early 2027.
Image source: Getty Images.
Is that delay bad news for AST's stock?
That delay was disappointing, but AST has plenty of irons in the fire. It's already working with more than 60 carriers to reach over 3 billion wireless subscribers, it has a $1.3 billion backlog, and it still plans to expand its constellation to at least 248 satellites over the long term. From 2025 to 2028, analysts expect AST's revenue to surge from $71 million in 2025 to $1.73 billion. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive in the final two years.
NASDAQ: ASTS
Key Data Points
With an enterprise value of $21 billion, AST's stock isn't cheap at 33 times next year's sales. But if you expect it to get back on track and aggressively expand its satellite network over the next few years, its recent pullback could be a great buying opportunity.
