AlTi Global (NASDAQ:ALTI) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.13 and traded as high as $4.75. AlTi Global shares last traded at $4.67, with a volume of 67,325 shares trading hands.

Wall Street Analysts Forecast Growth

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

AlTi Global Price Performance

The company has a market capitalization of $684.86 million, a P/E ratio of -2.58 and a beta of 0.77. The stock’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $4.13.

AlTi Global (NASDAQ:ALTI) last posted 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 6.77% and a negative net margin of 71.93%.The business had revenue of ($18.58) million during the quarter. On average, research analysts predict that AlTi Global, Inc. will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On AlTi Global

Several hedge funds have recently modified their holdings of ALTI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AlTi Global by 15.4% in the second 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 during the last quarter. The Manufacturers Life Insurance Company raised its stake in AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 3,679 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC boosted its holdings in AlTi Global by 158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 5,912 shares during the period. Finally, Bank of America Corp DE grew its position in AlTi Global by 28.2% in the 3rd quarter. Bank of America Corp DE now owns 31,553 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 6,938 shares during the last quarter. 3.57% of the stock is owned by 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. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.