AlTi Global (NASDAQ:ALTI) Shares Pass Above 200-Day Moving Average – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.75 and traded as high as $4.05. AlTi Global shares last traded at $3.90, with a volume of 106,650 shares trading hands.

Analyst Ratings Changes

ALTI has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a report on Friday, July 17th. Zacks Research cut AlTi Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, AlTi Global has a consensus rating of “Sell”.

AlTi Global Stock Performance

The firm’s 50 day moving average is $3.57 and its two-hundred day moving average is $3.75. The stock has a market capitalization of $591.32 million, a PE ratio of -2.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALTI. Invesco Ltd. increased its holdings in AlTi Global by 262.9% during the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 27,455 shares during the period. AQR Capital Management LLC purchased a new position in shares of AlTi Global in the 1st quarter valued at about $42,000. Geode Capital Management LLC grew 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 buying an additional 170,951 shares in the last quarter. The Manufacturers Life Insurance Company grew 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 buying an additional 3,679 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $97,000 after buying an additional 3,109 shares in the last quarter. 3.57% of the stock is owned by institutional investors and hedge funds.

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.