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A company insider recently bought 4,000 shares of Alta Equipment Group Inc [ALTG]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Alta Equipment Group Inc shares valued at $32,680 were purchased by Hoover Jeffrey Alan on Jun 07 ’24. At $8.17 per share, Hoover Jeffrey Alan acquired 4,000 shares. The insider’s holdings grew to 11,601 shares worth approximately $94084.11 following the completion of this transaction.

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Also, Greenawalt Ryan sold 34,951 shares, netting a total of over 397,008 in proceeds. Following the sale of shares at $11.36 each, the insider now holds 5,842,625 shares.

Before that, Colucci Anthony had sold 17,222 shares from its account. In a trade valued at $197,168, the Chief Financial Officer traded Alta Equipment Group Inc shares for $11.45 each. Upon closing the transaction, the insider’s holdings decreased to 17,222 shares, worth approximately $1.27 million.

As published in their initiating research note from Northland Capital on September 23, 2022, Alta Equipment Group Inc [ALTG] has been an Outperform and the price target has been revised to $25. Analysts at B. Riley Securities resumed the stock at ‘”a Buy”‘ outlook in a report released in early January. As of May 14, 2021, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for ALTG. Earlier on April 07, 2020, Dougherty & Company initiated its rating. Their recommendation was “a Buy” for ALTG stock.

Analyzing ALTG Stock Performance

During the last five days, there has been a drop of approximately -2.52%. Over the course of the year, Alta Equipment Group Inc shares have dropped approximately -34.44%. Shares of the company reached a 52-week high of $13.67 on 04/04/24 and a 52-week low of $7.62 on 07/01/24. A 50-day SMA is recorded $9.27, while a 200-day SMA reached $10.84. Nevertheless, trading volume fell to 96861.0 shares from 0.31 million shares the previous day.

Support And Resistance Levels for Alta Equipment Group Inc (ALTG)

According to the 24-hour chart, there is a support level at 7.99, which, if violated, would cause prices to drop to 7.86. In the upper region, resistance lies at 8.19. The next price resistance is at 8.26. RSI (Relative Strength Index) is 41.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 64.75%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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