Astera Labs, Inc. (NASDAQ:ALAB) Short Interest Up 25.1% in December

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 10,060,000 shares, a growth of 25.1% from the December 15th total of 8,040,000 shares. Based on an average daily trading volume, of 4,970,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 8.6% of the company's shares are sold short.

Astera Labs Stock Down 2.9 %

Shares of NASDAQ:ALAB traded down $3.87 during trading on Thursday, hitting $127.90. 4,183,407 shares of the company were exchanged, compared to its average volume of 3,320,998. The firm's 50 day moving average price is $118.21 and its 200-day moving average price is $75.65. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm's revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities analysts predict that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company's stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Trading of Astera Labs

A number of large investors have recently made changes to their positions in the company. Strategic Blueprint LLC lifted its stake in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock valued at $298,000 after buying an additional 195 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after acquiring an additional 224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Astera Labs during the 4th quarter worth $42,000. Finally, Hollencrest Capital Management purchased a new position in Astera Labs during the 3rd quarter worth $26,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALAB has been the subject of several research reports. Northland Capmk downgraded shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Northland Securities cut shares of Astera Labs from an "outperform" rating to a "market perform" rating and raised their target price for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.75.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.