Altair Engineering Inc’s filing revealed that its 10% Owner Christ George J unloaded Company’s shares for reported $9.32 million on Oct 11 ’24. In the deal valued at $95.23 per share,97,824 shares were sold. As a result of this transaction, Christ George J now holds 302,176 shares worth roughly $31.12 million.
Then, Christ George J sold 2,176 shares, generating $207,404 in total proceeds. Upon selling the shares at $95.31, the 10% Owner now owns 300,000 shares.
Before that, GC Investments LLC sold 97,824 shares. Altair Engineering Inc shares valued at $9,315,986 were divested by the 10% Owner at a price of $95.23 per share. As a result of the transaction, GC Investments LLC now holds 302,176 shares, worth roughly $31.12 million.
Goldman downgraded its Altair Engineering Inc [ALTR] rating to a Sell from a a Neutral in a research note published on August 02, 2024; the price target was decreased to $71 from $85. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid July from “an Overweight” to “a Neutral”. Rosenblatt also remained covering ALTR and has decreased its forecast on February 23, 2024 with a “Neutral” recommendation from previously “Buy” rating. JP Morgan started covering the stock on December 22, 2023. It rated ALTR as “an Overweight”.
Price Performance Review of ALTR
On Tuesday, Altair Engineering Inc [NASDAQ:ALTR] saw its stock jump 8.22% to $103.00. Over the last five days, the stock has gained 9.32%. Altair Engineering Inc shares have risen nearly 22.40% since the year began. Nevertheless, the stocks have risen 68.47% over the past one year. While a 52-week high of $101.39 was reached on 10/22/24, a 52-week low of $57.59 was recorded on 08/02/24. SMA at 50 days reached $91.78, while 200 days put it at $88.74.
Levels Of Support And Resistance For ALTR Stock
The 24-hour chart illustrates a support level at 94.84, which if violated will result in even more drops to 86.68. On the upside, there is a resistance level at 109.94. A further resistance level may holdings at 116.88. The Relative Strength Index (RSI) on the 14-day chart is 72.47, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.42, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 36.33%. Stochastics %K at 65.85% 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 2024-09-30, growing by 0.25 million shares to a total of 4.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 4.67 million shares. There was a rise of 5.07%, which implies that there is a positive sentiment for the stock.
