In yesterday’s Wall Street session, Astera Labs Inc (NASDAQ:ALAB) shares traded at $97.42, up 2.35% from the previous session.
ALAB stock price is now 45.03% away from the 50-day moving average and 56.91% away from the 200-day moving average. The market capitalization of the company currently stands at $15.45B.
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With the price target of $120, Citigroup recently initiated with Buy rating for Astera Labs Inc (NASDAQ: ALAB). On September 04, 2024, Morgan Stanley Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $55, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, Mazzara Philip, General Counsel and Secretary sold 2,513 shares of the company’s stock on Nov 18 ’24. The stock was sold for $228,211 at an average price of $90.81. Upon completion of the transaction, the General Counsel and Secretary now directly owns 248,745 shares in the company, valued at $24.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 18 ’24, Chief Financial Officer Tate Michael Truett sold 7,398 shares of the business’s stock. A total of $671,834 was realized by selling the stock at an average price of $90.81. This leaves the insider owning 286,424 shares of the company worth $27.9 million. A total of 27.62% 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 $100.09. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 10.74, and a quick ratio of 10.46. The fifty day moving average price for ALAB is $66.0644 and a two-hundred day moving average price translates $61.87853 for the stock.
The latest earnings results from Astera Labs Inc (NASDAQ: ALAB) was released for 2024-09-30. The net profit margin was -30.69% and return on equity was -16.05% for ALAB. The company reported revenue of $113.09 million for the quarter, compared to $36.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 206.23 percent.
