Wall Street Analyst Downgrade Altice USA Inc. [ATUS]. What else is Wall St. saying

Altice USA Inc. [NYSE: ATUS] jumped around 0.05 points on Wednesday, while shares priced at $3.57 at the close of the session, up 1.42%. The company report on March 14, 2023 that Lightpath Announces Enhanced National Long-Haul Network.

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Network offers scalable services up to 100 Gbps between eight major U.S. cities.

Lightpath, an all-fiber, infrastructure-based connectivity provider that is revolutionizing how organizations connect to their digital destinations, announced today the launch of an enhanced national long-haul network that will offer high bandwidth wavelength and Ethernet services between Boston, New York, Philadelphia, Ashburn, Chicago, Dallas, Atlanta, and Miami.

Altice USA Inc. stock is now -22.39% down from its year-to-date (YTD) trading value. ATUS Stock saw the intraday high of $3.61 and lowest of $3.385 per share. The company’s 52-week high price is 13.17, which means current price is +5.47% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 4.47M shares, ATUS reached a trading volume of 5162326 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 $7.15 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 2.80. 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.

TD Securities have made an estimate for Altice USA Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, Goldman dropped their target price from $7 to $5. The new note on the price target was released on January 10, 2023, representing the official price target for Altice USA Inc. stock. Previously, the target price had yet another raise to $3.50, while BofA Securities analysts kept a Underperform rating on ATUS stock.

The Average True Range (ATR) for Altice USA Inc. is set at 0.28, with the Price to Sales ratio for ATUS stock in the period of the last 12 months amounting to 0.17. Price to Free Cash Flow for ATUS in the course of the last twelve months was 3.60 with Quick ratio for the last quarter at 0.60.

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 -11.63. With this latest performance, ATUS shares dropped by -22.22% in over the last four-week period, additionally sinking by -63.01% over the last 6 months – not to mention a drop of -67.10% 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 35.64, with the RSI for the last a single of trading hit 32.80, and the three-weeks RSI is set at 37.96 for Altice USA Inc. [ATUS]. The present Moving Average for the last 50 days of trading for this stock 4.49, while it was recorded at 3.61 for the last single week of trading, and 6.86 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 0.60 and a Current Ratio set at 0.60.

Insider trade positions for Altice USA Inc. [ATUS]

There are presently around $908 million, or 59.80% 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 35,252,350, which is approximately 1.767% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 23,264,129 shares of the stock with an approximate value of $83.05 million in ATUS stocks shares; and REDWOOD CAPITAL MANAGEMENT, LLC, currently with $54.58 million in ATUS stock with ownership of nearly 41.053% of the company’s market capitalization.

149 institutional holders increased their position in Altice USA Inc. [NYSE:ATUS] by around 59,704,034 shares. Additionally, 147 investors decreased positions by around 68,322,105 shares, while 35 investors held positions by with 126,392,655 shares. The mentioned changes placed institutional holdings at 254,418,794 shares, according to the latest SEC report filing. ATUS stock had 50 new institutional investments in for a total of 13,355,217 shares, while 69 institutional investors sold positions of 49,062,057 shares during the same period.


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