AlTi Global (NASDAQ:ALTI) Shares Up 18.1% – Time to Buy?

AlTi Global, Inc. (NASDAQ:ALTI)’s share price rose 18.1% on Wednesday . The company traded as high as $4.28 and last traded at $4.3940. Approximately 283,556 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 171,701 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALTI. Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research lowered shares of AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, AlTi Global currently has an average rating of “Sell”.

AlTi Global Trading Up 24.4%

The stock has a market cap of $701.39 million, a P/E ratio of -3.28 and a beta of 0.71. 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 business’s 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.76.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALTI. Yorkville Advisors Global LP boosted its stake in shares of AlTi Global by 45.1% in the 4th quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company’s stock valued at $3,012,000 after purchasing an additional 201,699 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AlTi Global by 149.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,238 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 30,125 shares in the last quarter. Bank of America Corp DE lifted its holdings in AlTi Global by 28.2% during the 3rd quarter. Bank of America Corp DE now owns 31,553 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 6,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AlTi Global by 15.4% during the 2nd 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 last quarter. Finally, Millennium Management LLC acquired a new position in AlTi Global in the third quarter valued at about $91,000. 3.57% of the stock is currently owned by institutional investors and hedge funds.

AlTi Global Company Profile

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.