Altair Engineering Inc’s recent filing unveils that its Chief Product Strategy Officer Kunju Ravi unloaded Company’s shares for reported $37314.0 on Nov 11 ’24. In the deal valued at $103.65 per share,360 shares were sold. As a result of this transaction, Kunju Ravi now holds 30,305 shares worth roughly $3.19 million.
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Then, Kunju Ravi bought 360 shares, generating $37,314 in total proceeds.
Before that, Marraccini Jeffrey sold 1,824 shares. Altair Engineering Inc shares valued at $189,878 were divested by the insider at a price of $104.10 per share. As a result of the transaction, Marraccini Jeffrey now holds 4,680 shares, worth roughly $0.49 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 Friday, Altair Engineering Inc [NASDAQ:ALTR] saw its stock jump 0.81% to $105.20. Over the last five days, the stock has gained 1.40%. Altair Engineering Inc shares have risen nearly 25.01% since the year began. Nevertheless, the stocks have risen 46.64% over the past one year. While a 52-week high of $113.12 was reached on 10/29/24, a 52-week low of $68.87 was recorded on 08/02/24. SMA at 50 days reached $99.20, while 200 days put it at $90.89.
Levels Of Support And Resistance For ALTR Stock
The 24-hour chart illustrates a support level at 104.58, which if violated will result in even more drops to 103.97. On the upside, there is a resistance level at 105.53. A further resistance level may holdings at 105.87. The Relative Strength Index (RSI) on the 14-day chart is 61.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 12.02%. Stochastics %K at 61.06% 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 2024-10-31, dropping by -0.44 million shares to a total of 4.48 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 4.91 million shares. There was a decline of -9.74%, which implies that there is a negative sentiment for the stock.
