Altice USA Inc. [ATUS] moved down -4.66: Why It’s Important



Altice USA Inc. [NYSE: ATUS] slipped around -0.45 points on Tuesday, while shares priced at $9.20 at the close of the session, down -4.66%. The company report on August 1, 2022 that Suddenlink is Now Optimum.

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Unification of Products and Services Under One Optimum Brand Launches Today with New Campaign, “Get Closer, Go Farther.”.

Today, Altice USA (NYSE: ATUS) announces that its Suddenlink brand has rebranded to Optimum, bringing the company’s telecommunications products and services under one unified brand across its entire footprint. Today also marks the introduction of Optimum’s new nationwide brand campaign, “Get Closer, Go Farther” with a new look and feel, tagline, and mission unveiled to customers.

Altice USA Inc. stock is now -43.14% down from its year-to-date (YTD) trading value. ATUS Stock saw the intraday high of $9.71 and lowest of $9.05 per share. The company’s 52-week high price is 31.29, which means current price is +21.37% above from all time high which was touched on 01/05/22.

Compared to the average trading volume of 4.72M shares, ATUS reached a trading volume of 3822691 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Altice USA Inc. [ATUS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATUS shares is $15.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATUS stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

New Street have made an estimate for Altice USA Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 22, 2022. The new note on the price target was released on February 23, 2022, representing the official price target for Altice USA Inc. stock. Previously, the target price had yet another drop from $25 to $15, while Evercore ISI kept a In-line rating on ATUS stock.

The Average True Range (ATR) for Altice USA Inc. is set at 0.75, with the Price to Sales ratio for ATUS stock in the period of the last 12 months amounting to 0.25. Price to Free Cash Flow for ATUS in the course of the last twelve months was 1.91 with Quick ratio for the last quarter at 0.30.

How has ATUS stock performed recently?

Altice USA Inc. [ATUS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.23. With this latest performance, ATUS shares dropped by -2.65% in over the last four-week period, additionally sinking by -36.20% over the last 6 months – not to mention a drop of -70.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATUS stock in for the last two-week period is set at 43.58, with the RSI for the last a single of trading hit 38.24, and the three-weeks RSI is set at 45.44 for Altice USA Inc. [ATUS]. The present Moving Average for the last 50 days of trading for this stock 9.84, while it was recorded at 10.21 for the last single week of trading, and 12.95 for the last 200 days.

Altice USA Inc. [ATUS]: Deeper insight into the fundamentals

Altice USA Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Earnings analysis for Altice USA Inc. [ATUS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATUS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Altice USA Inc. go to -6.40%.

Insider trade positions for Altice USA Inc. [ATUS]

There are presently around $2,420 million, or 57.80% of ATUS stock, in the hands of institutional investors. The top three institutional holders of ATUS stocks are: CLARKSTON CAPITAL PARTNERS, LLC with ownership of 27,554,566, which is approximately 35.017% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 22,253,606 shares of the stock with an approximate value of $204.73 million in ATUS stocks shares; and BARROW HANLEY MEWHINNEY & STRAUSS LLC, currently with $187.83 million in ATUS stock with ownership of nearly 1.383% of the company’s market capitalization.

161 institutional holders increased their position in Altice USA Inc. [NYSE:ATUS] by around 59,875,719 shares. Additionally, 189 investors decreased positions by around 40,867,994 shares, while 40 investors held positions by with 162,325,104 shares. The mentioned changes placed institutional holdings at 263,068,817 shares, according to the latest SEC report filing. ATUS stock had 52 new institutional investments in for a total of 14,796,930 shares, while 83 institutional investors sold positions of 17,765,290 shares during the same period.