Astera Labs Inc.’s recently made public that its Chief Executive Officer Mohan Jitendra unloaded Company’s shares for reported $4.21 million on Oct 01 ’24. In the deal valued at $51.49 per share,81,818 shares were sold. As a result of this transaction, Mohan Jitendra now holds 736,364 shares worth roughly $38.54 million.
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Then, Jitendra Mohan bought 245,454 shares, generating $12,937,880 in total proceeds.
Before that, LAZAR JACK R sold 25,000 shares. Astera Labs Inc. shares valued at $1,268,040 were divested by the Director at a price of $50.72 per share. As a result of the transaction, LAZAR JACK R now holds 140,000 shares, worth roughly $7.33 million.
Morgan Stanley upgraded its Astera Labs Inc. [ALAB] rating to an Overweight from a an Equal-weight in a research note published recently. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. Stifel began covering ALAB with “Buy” recommendation on April 15, 2024. ROTH MKM started covering the stock on April 15, 2024. It rated ALAB as “a Buy”.
Price Performance Review of ALAB
On Friday, Astera Labs Inc. [NASDAQ:ALAB] saw its stock jump 7.34% to $52.34. Over the last five days, the stock has lost -2.20%. Astera Labs Inc. shares have fallen nearly -15.62% since the year began.
Levels Of Support And Resistance For ALAB Stock
The 24-hour chart illustrates a support level at 50.36, which if violated will result in even more drops to 48.38. On the upside, there is a resistance level at 53.37. A further resistance level may holdings at 54.40. The Relative Strength Index (RSI) on the 14-day chart is 60.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.47%. Stochastics %K at 61.04% indicates the stock is a holding.
How much short interest is there in Astera Labs Inc.?
A steep rise in short interest was recorded in Astera Labs Inc. stocks on 2024-09-13, dropping by -1.62 million shares to a total of 9.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 11.47 million shares. There was a decline of -16.51%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 15, 2024 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $85 price target.
