IHT Wealth Management LLC Has $5.96 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

IHT Wealth Management LLC lifted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 282,600 shares of the company’s stock after purchasing an additional 25,086 shares during the period. IHT Wealth Management LLC’s holdings in AST SpaceMobile were worth $5,963,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $37,000. Golden State Wealth Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth $46,000. CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth $67,000. Finally, SRS Capital Advisors Inc. grew its stake in AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company’s stock worth $73,000 after buying an additional 2,950 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 4.5 %

Shares of NASDAQ:ASTS opened at $23.39 on Monday. The business has a fifty day simple moving average of $26.36 and a 200 day simple moving average of $24.66. AST SpaceMobile, Inc. has a 12-month low of $2.07 and a 12-month high of $39.08. The firm has a market cap of $7.40 billion, a P/E ratio of -11.03 and a beta of 1.81. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

Several research firms recently weighed in on ASTS. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Roth Capital began coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 target price on the stock. Finally, UBS Group upped their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $42.82.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.