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. Altair Engineering Inc shares valued at $37,314 were sold by Kunju Ravi on Nov 11 ’24. At $103.65 per share, Kunju Ravi sold 360 shares. The insider’s holdings dropped to 30,305 shares worth approximately $3.15 million following the completion of this transaction.
Also, Kunju Ravi purchased 360 shares, netting a total of over 37,314 in proceeds.
Before that, Marraccini Jeffrey had sold 1,824 shares from its account. In a trade valued at $189,878, the insider traded Altair Engineering Inc shares for $104.10 each. Upon closing the transaction, the insider’s holdings decreased to 1,824 shares, worth approximately $0.49 million.
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 -0.16%. Over the course of the year, Altair Engineering Inc shares have jumped approximately 23.37%. 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 $96.67, while a 200-day SMA reached $90.31. Nevertheless, trading volume fell to 1.01 million shares from 1.02 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 103.71, which, if violated, would cause prices to drop to 103.59. In the upper region, resistance lies at 103.99. The next price resistance is at 104.16. RSI (Relative Strength Index) is 57.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 80.57%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
