AlTi Global (NASDAQ:ALTI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.77 and traded as high as $3.78. AlTi Global shares last traded at $3.57, with a volume of 116,523 shares changing hands.

Analyst Upgrades and Downgrades

ALTI has been the topic of a number of recent research reports. Zacks Research cut shares of AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research note on Friday, July 17th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, AlTi Global currently has an average rating of “Sell”.

AlTi Global Price Performance

The company has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $3.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $545.82 million, a PE ratio of -2.55 and a beta of 0.71.

Hedge Funds Weigh In On AlTi Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its position in AlTi Global by 262.9% in the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 27,455 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of AlTi Global during the first quarter worth $42,000. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 170,951 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AlTi Global by 25.4% during 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $97,000 after purchasing an additional 3,109 shares during the period. Hedge funds and other institutional investors own 3.57% of the company’s stock.

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.