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

IHT Wealth Management LLC grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 21.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 257,514 shares of the company’s stock after acquiring an additional 44,862 shares during the period. IHT Wealth Management LLC’s holdings in AST SpaceMobile were worth $6,734,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ASTS. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. Charles Schwab Investment Management Inc. lifted its position in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after buying an additional 47,600 shares during the period. Privium Fund Management B.V. bought a new position in AST SpaceMobile during the third quarter valued at $21,476,000. Finally, Bank of New York Mellon Corp raised its stake in shares of AST SpaceMobile by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock valued at $5,489,000 after acquiring an additional 170,440 shares during the period. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ASTS shares. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank lowered their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th.

AST SpaceMobile Trading Down 0.3 %

Shares of NASDAQ:ASTS traded down $0.08 during trading on Tuesday, reaching $23.14. The stock had a trading volume of 2,104,153 shares, compared to its average volume of 10,554,967. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $24.91 and its 200 day simple moving average is $20.06.

Insider Activity

In other news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction 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. The trade was a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,700 shares of company stock worth $3,220,524. Corporate insiders own 41.80% of the company’s stock.

About AST SpaceMobile

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.