Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Altair Engineering Inc shares valued at $1,097,379 were sold by Christ Revocable Trust on Apr 09 ’24. At $85.85 per share, Christ Revocable Trust sold 12,783 shares. The insider’s holdings dropped to 187,217 shares worth approximately $15.12 million following the completion of this transaction.
Also, Christ George J sold 12,783 shares, netting a total of over 1,097,379 in proceeds. Following the sale of shares at $85.85 each, the insider now holds 187,217 shares.
Before that, Harris Teresa A had sold 620 shares from its account. In a trade valued at $52,080, the Director traded Altair Engineering Inc shares for $84.00 each. Upon closing the transaction, the insider’s holdings decreased to 620 shares, worth approximately $1.53 million.
As published in a research note from Rosenblatt on February 23, 2024, Altair Engineering Inc [ALTR] has been rated down from a Buy to a Neutral and the price target has been revised to $88 from $74. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in late December. As of May 05, 2023, Goldman has increased its “Sell” rating to a “Neutral” for ALTR. Earlier on November 16, 2022, Needham initiated its rating. Their recommendation was “a Buy” for ALTR stock.
Analyzing ALTR Stock Performance
During the last five days, there has been a drop of approximately -3.47%. Over the course of the year, Altair Engineering Inc shares have dropped approximately -4.02%. Shares of the company reached a 52-week high of $92.92 on 02/09/24 and a 52-week low of $75.98 on 01/03/24. A 50-day SMA is recorded $84.75, while a 200-day SMA reached $74.44. Nevertheless, trading volume fell to 0.57 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for Altair Engineering Inc (ALTR)
According to the 24-hour chart, there is a support level at 79.58, which, if violated, would cause prices to drop to 78.39. In the upper region, resistance lies at 82.38. The next price resistance is at 83.99. RSI (Relative Strength Index) is 41.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.28, which suggests the price will decrease in the coming days. Percent R is at 88.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
