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 $64,542 were sold by Harris Teresa A on Nov 05 ’24. At $104.10 per share, Harris Teresa A sold 620 shares. The insider’s holdings dropped to 21,242 shares worth approximately $2.21 million following the completion of this transaction.
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Also, Marraccini Jeffrey purchased 1,824 shares, netting a total of over 189,878 in proceeds.
Before that, TERESA A. HARRIS had added 620 shares to its account. In a trade valued at $64,542, the Director bought Altair Engineering Inc shares for $104.10 each.
As published in a research note from Goldman on August 02, 2024, Altair Engineering Inc [ALTR] has been rated down from a Neutral to a Sell and the price target has been revised to $71 from $85. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of February 23, 2024, Rosenblatt has decreased its “Buy” rating to a “Neutral” for ALTR. Earlier on December 22, 2023, JP Morgan initiated its rating. Their recommendation was “an Overweight” for ALTR stock.
Analyzing ALTR Stock Performance
During the last five days, there has been a drop of approximately -4.27%. Over the course of the year, Altair Engineering Inc shares have jumped approximately 23.58%. Shares of the company reached a 52-week high of $113.12 on 10/29/24 and a 52-week low of $75.71 on 08/02/24. A 50-day SMA is recorded $95.13, while a 200-day SMA reached $89.87. Nevertheless, trading volume fell to 3.73 million shares from 3.16 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 103.09, which, if violated, would cause prices to drop to 102.19. In the upper region, resistance lies at 105.17. The next price resistance is at 106.35. RSI (Relative Strength Index) is 57.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 46.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
