The trading price of Astera Labs Inc. (NASDAQ:ALAB) closed higher on Firday, October 25, and closing at $72.67, 3.37% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $71.35 and $75.05. In examining the 52-week price action we see that the stock hit a 52-week high of $95.21 and a 52-week low of $36.22. Over the past month, the stock has gained 32.73% in value.
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Astera Labs Inc., whose market valuation is $11.38 billion at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.17 per share this quarter, however they have predicted annual earnings per share of 0.58 for current year and 0.85 for next year.
Analysts have forecast the company to bring in revenue of 97.44M for the current quarter, with the likely lows of 95M and highs of 98.64M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 348.17M.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ALAB a recommendation rating is 7. Out of them, 1 rate it a Hold, while 6 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Astera Labs Inc. (ALAB) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that ALAB’s price is currently 18.51% off the SMA20 and 42.25% off the SMA50. The RSI metric on the 14-day chart is currently showing 76.94, and weekly volatility stands at 4.83%. When measured over the past 30 days, the indicator reaches 5.57%. Astera Labs Inc. (NASDAQ:ALAB)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 3.63. With analysts defining $42.48-$100 as the low and high price targets, we arrive at a consensus price target of $77.5 for the trailing 12-month period. The current price is about 41.54% off the estimated low and -37.61% off the forecast high, based on this estimate. Investors will be thrilled if ALAB’s share price rises to $77.5, which is the median consensus price. At that level, ALAB’s share price would be -6.65% below current price.
To see how Astera Labs Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: ALAB stock’s performance was 3.37% in the latest trading.
An evaluation of the daily trading volume of Astera Labs Inc. (NASDAQ:ALAB) indicates that the 3-month average is 3.50 million. However, this figure has increased over the past 10 days to an average of 3.54.
Currently, records show that 155.47 million of the company’s shares remain outstanding. The insiders hold 27.83% of outstanding shares, whereas institutions hold 32.19%. The stats also highlight that short interest as of 2024-10-15, stood at 10.33 million shares, resulting in a short ratio of 2.55 at that time. From this, we can conclude that short interest is 950.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 9.84 million. However, since the stock’s price has seen 17.15% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
