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 $12,590 were sold by Srikanth Mahalingam on Nov 26 ’24. At $105.80 per share, Srikanth Mahalingam sold 119 shares. The insider’s holdings dropped to 40,041 shares worth approximately $4.22 million following the completion of this transaction.
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Also, Srikanth Mahalingam purchased 119 shares, netting a total of over 12,519 in proceeds.
Before that, Kunju Ravi had sold 360 shares from its account. In a trade valued at $37,314, the Chief Product Strategy Officer traded Altair Engineering Inc shares for $103.65 each. Upon closing the transaction, the insider’s holdings decreased to 360 shares, worth approximately $3.19 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 surge of approximately 1.01%. Over the course of the year, Altair Engineering Inc shares have jumped approximately 25.28%. 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 $100.06, while a 200-day SMA reached $91.14. Nevertheless, trading volume fell to 0.38 million shares from 0.49 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 105.29, which, if violated, would cause prices to drop to 105.16. In the upper region, resistance lies at 105.67. The next price resistance is at 105.92. RSI (Relative Strength Index) is 61.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.16, which suggests the price will increase in the coming days. Percent R is at 28.46%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
