Jim Cramer Calls AST SpaceMobile (ASTS) Stock a “Great Speculative” Buy

TLDR

• ASTS is trading around $85.13, with one analyst narrative pegging fair value at $170 — roughly 50% above current price
• The latest BlueBird satellites are confirmed fully operational, and a Rakuten-backed joint venture in Japan has been secured with government subsidies
• Jim Cramer called ASTS “a great speculative stock,” saying he thinks it can turn profitable within two years
• Pictet Asset Management increased its stake by 146.8% in Q1, but analysts hold a consensus “Reduce” rating with an average price target of $85.09
• Insiders have sold over $280 million worth of stock in the last three months, including the CFO offloading shares worth $4.3 million in June

AST SpaceMobile (ASTS) opened Friday at $85.13, right in line with the analyst consensus price target of $85.09 — which makes the current moment an interesting one to take stock of where things stand.

AST SpaceMobile, Inc., ASTS

The company has had a busy stretch. Its latest BlueBird satellites are now fully operational, and it has locked in a joint venture in Japan backed by Rakuten and supported by government subsidies. Those are real milestones for a company still working toward commercial scale.

Over the past seven days, ASTS climbed 19.15%. But zoom out to 30 days and the picture flips — the stock is down 20.65% over that window. Over one year, it’s up 86.69%, so the long-term momentum has been real, even if the near-term ride has been rough.

The $170 Fair Value Case

One widely followed analyst narrative puts fair value at $170 per share — nearly double where the stock is trading now. The thesis rests on AST building out its BlueBird constellation, converting carrier partnerships into recurring service revenue, and eventually operating at telecom-like scale. The discount rate used is 7.108%.

Supporting that view is the balance sheet. As of March 31, 2026, AST had roughly $3.5 billion in cash, and the company has said it does not plan to issue additional convertible debt this year. For a business at this stage of buildout, that’s a meaningful cushion.

But there’s a catch. The P/B ratio sits at 12.2x, compared to 1.6x for the broader US telecom industry. Even against close peers, the premium is thin at the edges — peers are at 12.6x. That’s a rich valuation for a company still posting heavy losses.

Analysts Divided, Insiders Selling

The analyst community is not aligned. Roth MKM has a buy rating with a $108 target. Barclays is underweight at $65. Deutsche Bank cut from buy to hold and trimmed its target to $106. UBS sits neutral at $80. The MarketBeat consensus lands at “Reduce.”

Q1 earnings didn’t help. AST reported a loss of $0.66 per share, missing the consensus estimate of -$0.23 by a wide margin. Revenue came in at $14.73 million against expectations of $39.01 million. Year-over-year revenue growth was 1,952% — but the miss was hard to ignore.

Insider activity has been one-way traffic. In the last three months, insiders sold over 3.1 million shares worth roughly $280.6 million. CFO Andrew Martin Johnson sold 45,809 shares at $93.81 each on June 11, reducing his stake by 8.34%.

On the institutional side, Pictet Asset Management raised its position by 146.8% in Q1, ending the quarter with 79,666 shares valued at $6.6 million. Institutional ownership overall stands at 60.95%.

The 52-week range runs from $36.08 to $133.86. The 50-day moving average is $87.38 and the 200-day is $89.44. Analysts currently project a full-year loss of $1.47 per share.

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