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Altair Engineering Inc. (NASDAQ: ALTR – Get Rating) saw a significant decrease in short interest during the month of November. Short interest totaled 2,090,000 shares as of November 30, which is down 14.0% from November 15 total of 2,430,000 shares. Based on an average daily volume of 350,600 shares, the days-to-cover ratio currently stands at 6.0 days.
Analysts set new price targets
Several analysts have issued reports on ALTR shares. The Street cut shares of Altair Engineering to “D+” rating from “C-” rating in a research note on Monday, September 19. Needham & Company LLC initiated coverage on shares of Altair Engineering in a research report on Wednesday, November 16. He sets a “buy” rating and $60.00 price target on the company. Finally, Rosenblatt Securities reduced its price target on shares of Altair Engineering from $70.00 to $63.00 and set a “buy” rating on the company in a research note on Monday, October 24. One equity research analyst has rated the stock with a Sell rating and three have issued a Buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.80, according to data from MarketBeat.com.
Altair Engineering Value Performance
Altair Engineering stock opened Friday at $44.97. The company’s 50-day moving average price is $47.06 and its 200-day moving average price is $50.45. The debt-to-equity ratio of the company is 0.57, quick ratio is 2.35 and current ratio is 2.35. The stock has a market capitalization of $3.60 billion, a P/E ratio of -60.77, a P/E/G ratio of 197.88, and a beta of 1.48. Altair Engineering’s 1-Year Low is $43.17 and 1-Year High is $78.38.
Altair Engineering (NASDAQ: ALTR – Receive Rating) issued its earnings results last Thursday, November 3. The software reported earnings per share ($0.16) for the quarter, beating consensus estimates ($0.19) by $0.03. The company’s revenue during the quarter was $119.35 million, beating the consensus estimate of $118.47 million. Altair Engineering had a negative return on equity of 0.13% and a negative net margin of 10.30%. As a group, equity research analysts estimate Altair Engineering will earn Rs 0.02 earnings per share for the current fiscal.
indoor activity
In other news, CRO Nelson Dias sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 23. The stock was sold at an average price of $47.11 for a total value of $188,440.00. Following the completion of the transaction, the executive now owns 30,124 shares in the company, valued at approximately $1,419,141.64. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In other news, CEO James Ralph Scapa sold 57,915 shares of Altair Engineering stock in a transaction on Tuesday, Nov. 15. The shares were sold at an average price of $49.97, for a total transaction of $2,894,012.55. Following the transaction, the CEO now holds 103,224 shares in the company, valued at $5,158,103.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Additionally, CRO Nelson Dias sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 23. Shares were sold at an average price of $47.11, for a total transaction of $188,440.00. Following the transaction, the executive now owns 30,124 shares in the company, valued at approximately $1,419,141.64. Disclosure of this sale can be found here. Insiders have sold a total of 62,278 shares of company stock valued at $3,099,118 over the past 90 days. 22.65% of the stock is owned by company insiders.
Institutional Business of Altair Engineering
Several large investors have bought and sold shares of ALTR recently. Quadrant Capital Group LLC increased its stake in Altair Engineering shares by 750.8% in the second quarter. Quadrant Capital Group LLC now owns 553 shares of Software’s stock valued at $29,000 after buying an additional 488 shares during the period. Ellevest Inc. raised its stake in Altair Engineering shares by 182.3% in the second quarter. After acquiring an additional 370 shares during the last quarter, Ellevest Inc. A has 573 shares of Software’s stock valued at $30,000. Meeder Asset Management Inc. bought a new position in shares of Altair Engineering worth $41,000 during the first quarter. Seacrest Wealth Management LLC acquired a new stake in Altair Engineering during the second quarter valued at $42,000. Finally, Castle Wealth Management LLC acquired a new position in shares of Altair Engineering during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 62.68% of the company’s stock.
Altair Engineering Company Profile
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Altair Engineering Inc., together with its subsidiaries, provides worldwide software and cloud solutions in the areas of simulation, high-performance computing, data analytics and artificial intelligence. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solver and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platforms and analytics tools, as well as support and complementary software products.
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