Astera Labs Inc. (NASDAQ:ALAB) shares, rose in value, with the stock price down by -10.70% to the previous day’s close as strong demand from buyers drove the stock to $43.06.
Actively observing the price movement in the last trading, the stock closed the session at $48.22, falling within a range of $40.77 and $47.85. Referring to stock’s 52-week performance, its high was $95.21, and the low was $36.22. On the whole, ALAB has fluctuated by 6.45% over the past month.
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With the market capitalization of Astera Labs Inc. currently standing at about $6.75 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Aug-06.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 344.07M, with a low estimate of 79.7M and a high estimate of 98.05M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 95.6M.
The stock’s technical analysis shows that the price of ALAB currently trading nearly 3.50% and -12.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.69, while the 7-day volatility ratio is showing 10.57% which for the 30-day chart, stands at 10.01%. Furthermore, Astera Labs Inc. (ALAB)’s average true range (ATR) is 3.91.
Data on historical trading for Astera Labs Inc. (NASDAQ:ALAB) indicates that the trading volumes over the past 10 days have averaged 3.43 and over the past 3 months, they’ve averaged 2.14 million. According to company’s latest data on outstanding shares, there are 155.47 million shares outstanding.
Nearly 28.28% of Astera Labs Inc.’s shares belong to company insiders and institutional investors own 32.08% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.47 million shares as on 2024-08-15, resulting in a short ratio of 4.93. According to the data, the short interest in Astera Labs Inc. (ALAB) stood at 1055.00 of shares outstanding as of 2024-08-15; the number of short shares registered in 2024-07-15 reached 8.61 million. The stock has fallen by -30.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ALAB stock heading into the next quarter.
