IHT Wealth Management LLC Has $6.73 Million Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

IHT Wealth Management LLC increased its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 21.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 approximately 0.10% of AST SpaceMobile worth $6,734,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. HighTower Advisors LLC lifted its position in 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 buying an additional 5,392 shares in the last quarter. Verition Fund Management LLC acquired a new position in AST SpaceMobile during the third quarter valued at approximately $1,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in AST SpaceMobile during the third quarter valued at approximately $4,819,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in AST SpaceMobile during the third quarter valued at approximately $626,000. Finally, FORA Capital LLC acquired a new position in AST SpaceMobile during the third quarter valued at approximately $4,215,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the company's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly owns 55,000 shares of the company's stock, valued at $1,334,300. The trade was a 45.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 over the last 90 days. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Trading Down 1.3 %

Shares of AST SpaceMobile stock traded down $0.31 during trading on Tuesday, hitting $22.91. 5,798,632 shares of the stock were exchanged, compared to its average volume of 10,572,813. The stock's fifty day moving average is $24.84 and its 200 day moving average is $20.19. The company has a quick ratio of 5.80, a current 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.

Analysts Set New Price Targets

A number of research firms have recently commented on ASTS. Scotiabank reduced their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research report on Friday, November 15th. UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th.

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.