Alta Equipment Group Inc. [ALTG] Investment Guide: What You Need to Know


Alta Equipment Group Inc.’s recently made public that its Director STUDDERT ANDREW P acquired Company’s shares for reported $69406.0 on Aug 21. In the deal valued at $13.88 per share,5,000 shares were bought. As a result of this transaction, STUDDERT ANDREW P now holds 64,983 shares worth roughly $ 0.95 million.

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Then, Savas Zachary E. bought 5,000 shares, generating $70,891 in total proceeds. Upon buying the shares at $14.18, the Director now owns 94,711 shares.

Before that, Greenawalt Ryan bought 10,000 shares. Alta Equipment Group Inc. shares valued at $143,737 were divested by the insider at a price of $14.37 per share. As a result of the transaction, Greenawalt Ryan now holds 86,208 shares, worth roughly $1.26 million.

Northland Capital initiated its Alta Equipment Group Inc. [ALTG] rating to an Outperform in a research note published on Friday, September 23, 2022; the price target was $25. PT values the company’s stock at a premium of 41.44 to its Friday closing price.

Price Performance Review of ALTG

On Friday, Alta Equipment Group Inc. [NYSE:ALTG] saw its stock jump 2.88% to $14.64. On the same session, the stock had its day’s lowest price of $14.27, but rose to a high of $14.67. Over the last five days, the stock has gained 4.57%. Alta Equipment Group Inc. shares have risen nearly 10.99% since the year began. Nevertheless, the stocks have risen 24.38% over the past one year. While a 52-week high of $20.60 was reached on 03/10/23, a 52-week low of $10.64 was recorded on 01/03/23. SMA at 50 days reached $15.92, while 200 days put it at $15.23. A total of 98025.0 shares were traded, compared to the trading of 0.12 million shares in the previous session.

Levels Of Support And Resistance For ALTG Stock

The 24-hour chart illustrates a support level at 14.38, which if violated will result in even more drops to 14.13. On the upside, there is a resistance level at 14.78. A further resistance level may holdings at 14.93. The Relative Strength Index (RSI) on the 14-day chart is 46.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.25%. Stochastics %K at 50.13% indicates the stock is a holding.

How much short interest is there in Alta Equipment Group Inc.?

A steep rise in short interest was recorded in Alta Equipment Group Inc. stocks on Aug 14, 2023, growing by 66690.0 shares to a total of 1.01 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.94 million shares. There was a rise of 6.6%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.36% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.26.

Alta Equipment Group Inc. [ALTG] – Who Are The Largest Shareholders?

In filings from B. Riley Capital Management LLC, it is revealed that the company now owns 3,609,763 shares, or roughly 11.15% of the outstanding ALTG shares. In other words, the investor’s shares have fallen by -2,530,000 from its previous 13-F filing of 6139763.0. Additionally, Voss Capital LLC increased 9.35% of its stake after which the total value it holdings stand at $38,451,955, while BlackRock Fund Advisors added 7.03% of its stake to hold $33.76 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 40,889 shares of Alta Equipment Group Inc., while Punch & Associates Investment Man bought -38,189 shares. At present, Granahan Investment Management, L is holding 814,337 shares valued at $13.15 million. Loomis, Sayles & Co. LP owned 609,894 shares of the company at the time of its most recent 13F filing, worth $9.85 million.

According to FactSet, Alta Equipment Group Inc.’s share price will average $24.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 65.14 percent from its previous closing price of $14.23. Analysts expect Alta Equipment Group Inc. stock to reach the higher price of $30.00, while the lowest price estimate is $22.00. However, 4 analysts have rated ALTG stock as a Buy in their predictions for 2023.


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