AlTi Global (NASDAQ:ALTI) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTIGet Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.77 and traded as high as $3.88. AlTi Global shares last traded at $3.76, with a volume of 95,208 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALTI. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AlTi Global presently has an average rating of “Reduce”.

Read Our Latest Stock Analysis on AlTi Global

AlTi Global Stock Performance

The stock has a market capitalization of $551.40 million, a price-to-earnings ratio of -2.09 and a beta of 0.76. The firm’s fifty day simple moving average is $4.00 and its 200 day simple moving average is $3.77.

AlTi Global (NASDAQ:ALTIGet Free Report) last announced its earnings results on Thursday, April 20th. The basic materials company reported ($0.11) EPS for the quarter. The company had revenue of ($18.58) million for the quarter. AlTi Global had a negative return on equity of 0.32% and a negative net margin of 66.10%. Analysts forecast that AlTi Global, Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of AlTi Global

Hedge funds have recently bought and sold shares of the stock. Flputnam Investment Management Co. acquired a new stake in AlTi Global during the 1st quarter worth approximately $76,000. Nuveen LLC bought a new position in shares of AlTi Global during the 1st quarter worth approximately $158,000. Geode Capital Management LLC grew its stake in shares of AlTi Global by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock worth $5,390,000 after acquiring an additional 170,951 shares in the last quarter. Invesco Ltd. grew its stake in shares of AlTi Global by 262.9% during the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 27,455 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AlTi Global by 15.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 3,109 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

About AlTi Global

(Get Free Report)

AlTi Global, Inc provides wealth and asset management services individuals, families, foundations, and institutions in the United States, the United Kingdom, and internationally. It operates through two segments, Wealth Management and Strategic Alternatives. The company offers discretionary investment management, non-discretionary investment advisory, and investment management and advisory services.

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