In yesterday’s Wall Street session, Astera Labs Inc. (NASDAQ:ALAB) shares traded at $65.99, up 0.61% from the previous session.
ALAB stock price is now 38.32% away from the 50-day moving average and 12.11% away from the 200-day moving average. The market capitalization of the company currently stands at $10.34B.
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With the price target maintained at $55, Morgan Stanley recently Upgraded its rating from Equal-Weight to Overweight for Astera Labs Inc. (NASDAQ: ALAB). On April 16, 2024, Evercore ISI recently initiated its ‘Outperform’ rating on the stock quoting a target price of $100, while ‘Stifel’ rates the stock as ‘Buy’
In other news, Gajendra Sanjay, insider sold 110,000 shares of the company’s stock on Oct 11 ’24. The stock was sold for $7,641,183 at an average price of $69.47. Upon completion of the transaction, the insider now directly owns 835,000 shares in the company, valued at $55.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 11 ’24, Chief Executive Officer Mohan Jitendra sold 47,667 shares of the business’s stock. A total of $3,348,993 was realized by selling the stock at an average price of $70.26. This leaves the insider owning 728,420 shares of the company worth $48.07 million. A total of 27.93% of the company’s stock is owned by insiders.
During the past 12 months, Astera Labs Inc. has had a low of $36.22 and a high of $95.21. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 13.91, and a quick ratio of 13.46. The fifty day moving average price for ALAB is $47.7091 and a two-hundred day moving average price translates $58.861702 for the stock.
The latest earnings results from Astera Labs Inc. (NASDAQ: ALAB) was released for 2024-06-30. The net profit margin was -38.92% and return on equity was -16.05% for ALAB. The company reported revenue of $76.85 million for the quarter, compared to $17.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 335.07 percent.
