Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Decreases By 30.5%

AlTi Global, Inc. (NASDAQ:ALTI) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,070,000 shares, a decline of 30.5% from the September 15th total of 1,540,000 shares. Based on an average daily volume of 141,800 shares, the days-to-cover ratio is presently 7.5 days. Currently, 1.9% of the company’s stock are sold short. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 141,800 shares, the days-to-cover ratio is presently 7.5 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALTI shares. Zacks Research raised shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a report on Friday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings 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 valued at $5,390,000 after purchasing an additional 170,951 shares during the last quarter. Nuveen LLC bought a new position in AlTi Global during the 1st quarter worth $158,000. Invesco Ltd. grew its stake 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 buying an additional 27,455 shares during the last quarter. Flputnam Investment Management Co. acquired a new stake in AlTi Global in the first quarter worth $76,000. Finally, AQR Capital Management LLC bought a new stake in AlTi Global in the first quarter valued at $42,000. 3.57% of the stock is currently owned by institutional investors and hedge funds.

AlTi Global Price Performance

Shares of ALTI opened at $3.83 on Friday. The stock has a market capitalization of $561.67 million, a PE ratio of -2.13 and a beta of 0.76. The business’s fifty day moving average price is $3.89 and its 200 day moving average price is $3.81. AlTi Global has a 12-month low of $2.33 and a 12-month high of $5.00.

AlTi Global (NASDAQ:ALTI) last issued its earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share for the quarter. AlTi Global had a negative return on equity of 0.32% and a negative net margin of 66.10%.The business had revenue of ($18.58) million for the quarter. As a group, research analysts anticipate that AlTi Global will post -0.14 earnings per share 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.