Altair Engineering Inc’s recent filing unveils that its Director Harris Teresa A unloaded Company’s shares for reported $52080.0 on Apr 02 ’24. In the deal valued at $84.00 per share,620 shares were sold. As a result of this transaction, Harris Teresa A now holds 18,895 shares worth roughly $1.61 million.
Then, Christ Revocable Trust sold 83,336 shares, generating $7,165,779 in total proceeds. Upon selling the shares at $85.99, the 10% Owner now owns 200,000 shares.
Before that, Christ George J sold 83,336 shares. Altair Engineering Inc shares valued at $7,165,779 were divested by the 10% Owner at a price of $85.99 per share. As a result of the transaction, Christ George J now holds 200,000 shares, worth roughly $17.03 million.
Rosenblatt downgraded its Altair Engineering Inc [ALTR] rating to a Neutral from a a Buy in a research note published on February 23, 2024; the price target was increased to $88 from $74. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in late December with a ‘”an Overweight”‘ rating. Goldman also remained covering ALTR and has increased its forecast on May 05, 2023 with a “Neutral” recommendation from previously “Sell” rating. Needham started covering the stock on November 16, 2022. It rated ALTR as “a Buy”.
Price Performance Review of ALTR
On Tuesday, Altair Engineering Inc [NASDAQ:ALTR] saw its stock fall -0.92% to $85.14. Over the last five days, the stock has gained 1.65%. Altair Engineering Inc shares have risen nearly 1.18% since the year began. Nevertheless, the stocks have risen 21.13% over the past one year. While a 52-week high of $92.92 was reached on 02/09/24, a 52-week low of $57.59 was recorded on 01/03/24. SMA at 50 days reached $85.49, while 200 days put it at $74.17. A total of 0.52 million shares were traded, compared to the trading of 0.23 million shares in the previous session.
Levels Of Support And Resistance For ALTR Stock
The 24-hour chart illustrates a support level at 84.02, which if violated will result in even more drops to 82.90. On the upside, there is a resistance level at 86.62. A further resistance level may holdings at 88.10. The Relative Strength Index (RSI) on the 14-day chart is 52.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.27%. Stochastics %K at 69.17% indicates the stock is a holding.
How much short interest is there in Altair Engineering Inc?
A steep rise in short interest was recorded in Altair Engineering Inc stocks on Mar 15, 2024, dropping by 80000.0 shares to a total of 3.41 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.49 million shares. There was a decline of -2.35%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.13.
The most recent change occurred on August 17, 2022 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $70 price target.
