Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Declines By 30.5%

Key Points

• Short interest in AlTi Global, Inc. has decreased by 30.5%, from 1,540,000 shares on September 15th to 1,070,000 shares by September 30th, indicating improved investor sentiment.
• The company's stock has a market cap of $567.54 million, with a P/E ratio of -2.15 and a current share price of $3.87.
• Recent analyst ratings have been mixed, with Weiss Ratings maintaining a "sell (d-)" rating while Zacks upgraded it from "strong sell" to "hold".

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 1,070,000 shares, a decrease of 30.5% from the September 15th total of 1,540,000 shares. Based on an average daily volume of 141,800 shares, the short-interest ratio is presently 7.5 days. Approximately 1.9% of the company's shares are sold short. Approximately 1.9% of the company's shares are sold short. Based on an average daily volume of 141,800 shares, the short-interest ratio is presently 7.5 days.

AlTi Global Stock Performance

Shares of NASDAQ:ALTI opened at $3.87 on Thursday. The firm has a market cap of $567.54 million, a P/E ratio of -2.15 and a beta of 0.76. AlTi Global has a 52-week low of $2.33 and a 52-week high of $5.00. The business's 50 day simple moving average is $3.91 and its two-hundred day simple moving average is $3.80.

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. 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%. On average, equities analysts forecast that AlTi Global will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of AlTi Global

Several institutional investors and hedge funds have recently modified their holdings of ALTI. Tower Research Capital LLC TRC raised its stake in shares of AlTi Global by 158.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company's stock worth $40,000 after purchasing an additional 5,912 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of AlTi Global in the first quarter worth approximately $42,000. The Manufacturers Life Insurance Company raised its stake in shares of AlTi Global by 25.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company's stock worth $75,000 after purchasing an additional 3,679 shares during the last quarter. Flputnam Investment Management Co. purchased a new stake in shares of AlTi Global during the first quarter valued at approximately $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AlTi Global by 15.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company's stock valued at $97,000 after acquiring an additional 3,109 shares during the last quarter. 3.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALTI has been the topic of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of AlTi Global in a research report on Wednesday, October 8th. Zacks Research upgraded 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

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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