IHT Wealth Management LLC Boosts Stock Holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS)

IHT Wealth Management LLC increased its position in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 257,514 shares of the company’s stock after acquiring an additional 44,862 shares during the period. IHT Wealth Management LLC owned about 0.10% of AST SpaceMobile worth $6,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC lifted its holdings in shares of AST SpaceMobile by 30.0% during the third quarter. HighTower Advisors LLC now owns 23,343 shares of the company’s stock valued at $610,000 after purchasing an additional 5,392 shares in the last quarter. Verition Fund Management LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth about $1,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in AST SpaceMobile during the 3rd quarter valued at about $4,819,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $626,000. Finally, FORA Capital LLC bought a new stake in shares of AST SpaceMobile in the third quarter worth approximately $4,215,000. 60.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ASTS has been the topic of a number of research analyst reports. B. Riley increased their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank lowered their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th.

AST SpaceMobile Trading Down 0.3 %

Shares of ASTS stock traded down $0.08 during mid-day trading on Tuesday, reaching $23.14. 2,104,153 shares of the company’s stock traded hands, compared to its average volume of 10,554,967. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The firm has a 50 day moving average price of $24.91 and a two-hundred day moving average price of $20.06.

Insider Buying and Selling at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.