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

Key Points

• AlTi Global's stock recently crossed above its 200-day moving average of $3.77, reaching a high of $3.88 during trading on Tuesday.
• Analysts have mixed ratings for AlTi Global, with one firm upgrading it to a "hold" while another reissued a "sell" rating, resulting in a consensus rating of "Reduce."
• Institutional investors have shown significant interest, with Invesco Ltd. increasing its stake in AlTi Global by 262.9% during the first quarter.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of AlTi Global in a report on Wednesday, October 8th. Zacks Research raised shares of AlTi Global from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce".

AlTi Global Trading Up 1.9%

The business's fifty day simple moving average is $4.00 and its 200 day simple moving average is $3.77. The stock has a market cap of $551.40 million, a P/E ratio of -2.09 and a beta of 0.76.

AlTi Global (NASDAQ:ALTI - Get Free Report) last issued its quarterly earnings data on Thursday, April 20th. The basic materials company reported ($0.11) EPS for the quarter. AlTi Global had a negative return on equity of 0.32% and a negative net margin of 66.10%.The company had revenue of ($18.58) million for the quarter. On average, analysts predict that AlTi Global, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALTI. Invesco Ltd. lifted its position in AlTi Global by 262.9% during the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company's stock valued at $115,000 after purchasing an additional 27,455 shares during the period. Nuveen LLC acquired a new position in AlTi Global during the 1st quarter valued at about $158,000. Flputnam Investment Management Co. acquired a new position in AlTi Global during the 1st quarter valued at about $76,000. AQR Capital Management LLC acquired a new position in AlTi Global during the 1st quarter valued at about $42,000. Finally, Geode Capital Management LLC lifted its position in 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 valued at $5,390,000 after purchasing an additional 170,951 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

AlTi Global Company Profile

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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