AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC raised its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,600 shares of the company's stock after buying an additional 25,086 shares during the period. IHT Wealth Management LLC owned approximately 0.10% of AST SpaceMobile worth $5,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASTS. JPMorgan Chase & Co. boosted its position in shares of AST SpaceMobile by 235.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after buying an additional 174,007 shares in the last quarter. Key Colony Management LLC lifted its holdings in shares of AST SpaceMobile by 44.1% in the fourth quarter. Key Colony Management LLC now owns 196,000 shares of the company's stock valued at $4,136,000 after purchasing an additional 60,000 shares in the last quarter. Lake Hills Wealth Management LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $374,000. KBC Group NV increased its stake in shares of AST SpaceMobile by 63.8% during the 4th quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after purchasing an additional 2,536 shares in the last quarter. Finally, MBE Wealth Management LLC raised its position in shares of AST SpaceMobile by 7.0% during the 4th quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock worth $838,000 after purchasing an additional 2,602 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 41.80% of the company's stock.

Analyst Ratings Changes

ASTS has been the topic of a number of analyst reports. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group increased their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $42.82.

AST SpaceMobile Trading Down 1.3 %

AST SpaceMobile stock traded down $0.31 during midday trading on Friday, reaching $23.76. The stock had a trading volume of 7,864,168 shares, compared to its average volume of 12,499,618. The stock's 50-day simple moving average is $25.55 and its 200 day simple moving average is $24.58. AST SpaceMobile, Inc. has a twelve month low of $2.12 and a twelve month high of $39.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market capitalization of $7.52 billion, a PE ratio of -11.21 and a beta of 1.81.

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.