Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Rises By 49.5%

AlTi Global, Inc. (NASDAQ:ALTI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,600,000 shares, an increase of 49.5% from the September 30th total of 1,070,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 139,200 shares, the short-interest ratio is presently 11.5 days. Based on an average daily trading volume, of 139,200 shares, the short-interest ratio is presently 11.5 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Ratings Changes

ALTI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALTI. Invesco Ltd. grew its holdings in AlTi Global by 262.9% during 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. Nuveen LLC acquired a new position in AlTi Global during the first quarter worth $158,000. Flputnam Investment Management Co. acquired a new position in AlTi Global during the first quarter worth $76,000. AQR Capital Management LLC acquired a new position in AlTi Global during the first quarter worth $42,000. Finally, Geode Capital Management LLC grew its holdings in AlTi Global by 15.2% during the second 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 during the period. Institutional investors and hedge funds own 3.57% of the company’s stock.

AlTi Global Trading Up 2.3%

NASDAQ:ALTI opened at $3.94 on Friday. The firm has a market cap of $577.80 million, a P/E ratio of -2.19 and a beta of 0.76. The stock’s 50 day simple moving average is $3.86 and its 200-day simple moving average is $3.85. AlTi Global has a 12-month low of $2.33 and a 12-month high of $5.00.

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

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.