Astera Labs Inc (NASDAQ:ALAB) shares, rose in value on Wednesday, November 20, with price up by 2.35% to the previous day’s close as strong demand from buyers drove the stock to $97.42.
Actively observing the price movement in the last trading, the stock closed the session at $95.18, falling within a range of $92.17 and $98.77. Referring to stock’s 52-week performance, its high was $100.09, and the low was $36.22. On the whole, ALAB has fluctuated by 42.66% over the past month.
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With the market capitalization of Astera Labs Inc currently standing at about $15.45 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 383.13M, with a low estimate of 126M and a high estimate of 130M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 127.91M.
The stock’s technical analysis shows that the price of ALAB currently trading nearly 15.02% and 45.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 68.88, while the 7-day volatility ratio is showing 5.81% which for the 30-day chart, stands at 6.67%. Furthermore, Astera Labs Inc (ALAB)’s average true range (ATR) is 5.83.
Data on historical trading for Astera Labs Inc (NASDAQ:ALAB) indicates that the trading volumes over the past 10 days have averaged 6.21 and over the past 3 months, they’ve averaged 4.37 million. According to company’s latest data on outstanding shares, there are 155.47 million shares outstanding.
Nearly 27.62% of Astera Labs Inc’s shares belong to company insiders and institutional investors own 46.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.64 million shares as on 2024-10-31, resulting in a short ratio of 2.9. According to the data, the short interest in Astera Labs Inc (ALAB) stood at 961.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 11.1 million. The stock has risen by 57.05% 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.
