Altair Engineering Stock Bullish Momentum With A 27% Rise In The Last 21 Sessions

(VIANEWS) – Shares of Altair Engineering (NASDAQ: ALTR) jumped by a staggering 27.27% in 21 sessions from $54.68 at 2023-02-21, to $69.59 at 14:28 EST on Wednesday, following the last session’s downward trend. NASDAQ is rising 0.07% to $11,868.80, after two consecutive sessions in a row of gains.

Altair Engineering’s last close was $69.49, 1.49% below its 52-week high of $70.54.

About Altair Engineering

Altair Engineering Inc., together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products. This segment also offers software technologies in the areas of computational fluid dynamics and fatigue, manufacturing process simulation, and cost estimation for the applications in marine, motorcycle, aerospace, chemical, and architecture industries; and software-related services, such as consulting, implementation, and training services that focuses on the product design and development expertise and analysis from the component level up to complete product engineering at various stage of the lifecycle. The Client Engineering Services segment provides client engineering services. In addition, the company is involved in the development and sale of solid state lighting technology along with communication and control protocols based on its intellectual property for the direct replacement of fluorescent light tubes with LED lamps. Its integrated suite of software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling, and embedded systems. The company's customers include universities, government agencies, manufacturers, pharmaceutical firms, banking, financial services, and insurance, weather prediction agencies, and electronics design companies. Altair Engineering Inc. was incorporated in 1985 and is headquartered in Troy, Michigan.

Earnings Per Share

As for profitability, Altair Engineering has a trailing twelve months EPS of $-0.14.

The company’s return on equity, which measures the profitability of a business relative to shareholder’s equity, for the twelve trailing months is negative -7.34%.

Growth Estimates Quarters

The company’s growth estimates for the current quarter is a negative 23.7% and positive 30.8% for the next.

Revenue Growth

Year-on-year quarterly revenue growth grew by 13.9%, now sitting on 572.22M for the twelve trailing months.

Yearly Top and Bottom Value

Altair Engineering’s stock is valued at $69.59 at 14:28 EST, below its 52-week high of $70.54 and way higher than its 52-week low of $43.17.

More news about Altair Engineering (ALTR).

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