Altair Engineering Inc. (NASDAQ:ALTR) brief curiosity down 6.8% in September


Altair Engineering Inc. (NASDAQ:ALTR – Get Ranking) The month of September noticed a significant drop in low curiosity. As of September 15, whole curiosity of two,620,000 shares was brief, a 6.8% decline from a complete of two,810,000 shares of two,810,000 shares as of August 31. Primarily based on the common every day quantity of 277,200 shares, the day-to-cover ratio is at the moment 9.5 days.

Change in analyst ranking

ALTR has been the topic of a number of latest analysis stories. Wolfe Analysis started protection on Altair engineering in a analysis word on Tuesday, August 16. He set an “outperform” ranking and a $70.00 worth goal for the corporate. The Avenue downgraded Altair Engineering from a “C-” ranking to a “D+” ranking in a analysis report on Monday, September 19. Rosenblatt Securities lowered its goal worth on Altair Engineering from $77.00 to $70.00 and set a “purchase” ranking on the inventory in a analysis report dated Thursday, July twenty first. Goldman Sachs Group downgraded Altair Engineering from a “impartial” ranking to a “gross sales” ranking, and in a analysis report on Monday, June 27, lowered their worth goal for the corporate from $62.00 to $41.00. Lastly, Oppenheimer reaffirmed the “begin” ranking on Altair Engineering’s shares in a analysis word dated Wednesday, July 27. One analyst has rated the inventory with promote ranking, two have given maintain ranking and three have given purchase ranking to the inventory. Primarily based on knowledge from MarketBeat, the inventory at the moment has a mean ranking of “Maintain” and a consensus worth goal of $70.50.

Altair Engineering Inventory Efficiency

ALTR shares opened at $44.22 on Friday. The corporate has a debt-to-equity ratio of 0.55, a fast ratio of two.96 and a present ratio of two.96. The 50-day shifting common for buying and selling is $52.36 and the 200-day shifting common is $54.38. 1-12 months low of Altair Engineering is $44.15 and 1-12 months excessive is $82.96.

Altair Engineering (NASDAQ: ALTR – GET RATINGS) final launched its earnings outcomes on Thursday, Aug. Software program reported earnings per share ($0.14) (EPS) for the quarter, up from the analysts’ consensus estimate ($0.07) ($0.07). The agency’s income through the quarter was $132.66 million, in comparison with analysts’ expectations of $129.37 million. Altair Engineering had a constructive return on fairness of 1.79% and a damaging internet margin of 5.73%. The enterprise’s income was up 10.6% on a year-on-year foundation. Throughout the identical quarter final yr, the enterprise earned ($0.04) EPS. Fairness analysis analysts anticipate Altair Engineering to generate earnings per share of -0.03 for the present fiscal.

Hedge fund weighs in on Altair Engineering

Many hedge funds and different institutional buyers have lately added or decreased their stake within the firm. Hightower Advisors LLC acquired a brand new stake in Altair Engineering value roughly $232,000 through the fourth quarter. JPMorgan Chase & Firm elevated its place in Altair Engineering by 48.5% through the fourth quarter. JPMorgan Chase & Co now owns 90,444 shares of Software program’s inventory value $6,993,000 after buying a further 29,521 shares through the interval. Charles Schwab Funding Administration Inc. elevated its place in Altair Engineering shares by 7.9% through the fourth quarter. After buying a further 25,662 shares through the interval, Charles Schwab Funding Administration Inc. now owns 348,623 shares of Software program’s inventory value $26,956,000. Squarepoint Ops LLC acquired a brand new stake in Altair Engineering value roughly $2,286,000 in shares through the fourth quarter. Lastly, the Canada Pension Plan Funding Board acquired a brand new stake in Altair Engineering shares value roughly $6,186,000 through the fourth quarter. Hedge funds and different institutional buyers personal 62.68% of the corporate’s shares.

Altair Engineering Firm Profile

(get ranking)

Altair Engineering Inc., together with its subsidiaries, gives software program and cloud options within the areas of simulation, high-performance computing, knowledge analytics and synthetic intelligence worldwide. The corporate operates in two segments, Software program and Shopper Engineering Providers. The software program section contains solver and optimization know-how merchandise, high-performance computing software program utility and {hardware} merchandise, modeling and visualization instruments, knowledge analytics and evaluation merchandise, and Web of Issues platform and analytics instruments, in addition to assist and complementary software program merchandise.

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