AlTi Global (NASDAQ:ALTI) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.80 and traded as high as $3.87. AlTi Global shares last traded at $3.87, with a volume of 76,392 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALTI. Zacks Research raised 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 note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce".

AlTi Global Trading Down 0.3%

The firm has a 50-day simple moving average of $3.91 and a two-hundred day simple moving average of $3.80. The company has a market capitalization of $567.54 million, a price-to-earnings ratio of -2.15 and a beta of 0.76.

AlTi Global (NASDAQ:ALTI - Get Free Report) last issued 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 during the quarter. AlTi Global had a negative return on equity of 0.32% and a negative net margin of 66.10%. Equities research analysts anticipate that AlTi Global, Inc. will post -0.14 EPS for the current year.

Hedge Funds Weigh In On AlTi Global

Several institutional investors have recently made changes to their positions in ALTI. Geode Capital Management LLC lifted its stake in shares of AlTi Global by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock valued at $5,390,000 after purchasing an additional 170,951 shares during the period. Nuveen LLC purchased a new position in AlTi Global in the first quarter valued at $158,000. Invesco Ltd. raised its position in shares of AlTi Global by 262.9% in the first 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 during the period. Flputnam Investment Management Co. acquired a new position in shares of AlTi Global in the first quarter worth about $76,000. Finally, AQR Capital Management LLC purchased a new stake in shares of AlTi Global during the 1st quarter worth about $42,000. 3.57% of the stock is owned by hedge funds and other institutional investors.

About AlTi Global

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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