Altair Engineering Inc. (NASDAQ:ALTR) is a big mover this session as the company shares are trading 3.36% or 1.2 points higher from last closing price of $35.75, reaching $36.95 at last check. So what’s going on with ALTR shares anyway? The price has risen in 3 of the last 5 days and is down -6.58% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -212,928 shares, and in total 464672 shares valued at $17.17 million were seen changing hands compared with 677600 shares valued at $24.224 million recorded at the previous session. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes in ALTR stock for the next couple of days.
Altair Engineering Inc. (ALTR) shares have notched a 3-month decline of about -6.58%, but has still advanced 29.62% year to date. By comparison, the stock sank -0.61% over the past 12 months, while it jumped 4.05% over the 1 month. The company’s market cap is around $2.51B, with its short interest ratio standing at 1.45%.
In the current trading session for ALTR, the stock witnessed two major price actions, it rose to a high of $37.05 and was down as much as $35.49 at one point. The high recorded is very low when compared to their 52-week high which is $25.28. The 52-week high is now at -15.89 distance from current price. Their recent low of $43.99 represents a 46.36% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for ALTR is $39.6, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Altair Engineering Inc. earned $0.3 per share in the trailing 12 months and has a P/E ratio of 123.17. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is higher than the ones recorded by the industry which is 20.65 and lower compared to the sector’s average of 980.64. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. ALTR also has P/S multiple of 6. This is greater versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 2.58x.
The company recorded an interesting insider sale transaction by the Insider on Jun 11, 2019. A Securities and Exchanges Commission filings show that James Dagg sold a total of 8,000 ALTR shares that day for a sum of around $280,720. Altair Engineering Inc. (ALTR) insiders have acquired 604,864 shares in the stock within the past three months. In total, individual insiders traded 1,225,556 shares in the business, which makes up 91.733% of 1,336,006 shares that were traded over a year. In the past 12 months, insiders have purchased 661,834 shares while the seller parted with 674,172 shares.
ALTR‘s last price was up 5.17% as compared to the average trading price of 50 days recorded at $35.13 while enlarging the period to 200 trading days, the average closing price was $36.92. At present, there are 70.2 million in the total number of common shares owned by the public and among those 34.65 million shares have been available to trade. The percentage of shares being held by the company management was 1% while institutions stake was 75.2%. The company has generated positive returns on equity over the last 12 months (9%). It managed to keep its gross profit margin at 72.3% over the past 12 months.
When assessing the full upside of the ALTR stock, there is another set of technicals that should be looked into and considered. Its 1.18% gain from moving average of $36.52 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Altair Engineering Inc. — 3 analysts rate the stock as a buy with another 0 rating it strong buy. There are 4 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $39.7833 on shares of Altair Engineering Inc. (NASDAQ:ALTR), which corresponds to 7.67% upside potential than its current market price of $36.95 and implies potential despite the recent advance in the price. However, their current target price has fallen from $39.7833 a month ago and is up handily from the consensus target of $39.6667 a quarter ago.
Let’s briefly check the hedge fund interest towards ALTR stock. Marshall Wace North America L.P. added position in the company after it grew 39.5% or 7,587 shares of its common stock. The hedge fund now owns 10,584 shares worth $391,079, SEC documents show. Marshall Wace LLP shored up assets in the stock as 12334.78 shares have been purchased, increasing its stake by 38.6% to 17,096 shares which are currently valued at $631,697. In addition, Lombard Odier Asset Management USA Corp recently reported that it now owns 60,000 shares making a total of $2,217,000 based on the recent price. This refelects a change of 50% in their ownership.