Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Update

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,160,000 shares, a drop of 10.0% from the August 15th total of 2,400,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 603,500 shares, the short-interest ratio is currently 3.6 days.

Alignment Healthcare Trading Up 1.9 %

Shares of Alignment Healthcare stock opened at $13.12 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.52. Alignment Healthcare has a 12-month low of $6.14 and a 12-month high of $23.35. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -16.00 and a beta of 1.92. The firm’s 50 day simple moving average is $15.18 and its two-hundred day simple moving average is $12.24.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.20. Alignment Healthcare had a negative net margin of 11.20% and a negative return on equity of 47.96%. During the same quarter last year, the business posted ($0.25) EPS. Analysts predict that Alignment Healthcare will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 25,752 shares of Alignment Healthcare stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $13.04, for a total value of $335,806.08. Following the completion of the transaction, the chief executive officer now directly owns 3,539,639 shares of the company’s stock, valued at approximately $46,156,892.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Dawn Christine Maroney sold 10,250 shares of Alignment Healthcare stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $16.60, for a total transaction of $170,150.00. Following the completion of the transaction, the insider now directly owns 1,549,819 shares of the company’s stock, valued at approximately $25,726,995.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 25,752 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $13.04, for a total transaction of $335,806.08. Following the transaction, the chief executive officer now directly owns 3,539,639 shares of the company’s stock, valued at $46,156,892.56. The disclosure for this sale can be found here. Insiders sold 3,567,962 shares of company stock valued at $56,518,447 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several large investors have recently made changes to their positions in ALHC. Nisa Investment Advisors LLC purchased a new stake in shares of Alignment Healthcare in the 1st quarter valued at $34,000. First Quadrant LLC CA acquired a new stake in shares of Alignment Healthcare in the first quarter valued at about $47,000. US Bancorp DE increased its position in Alignment Healthcare by 15.8% during the second quarter. US Bancorp DE now owns 6,704 shares of the company’s stock worth $76,000 after purchasing an additional 914 shares during the last quarter. Victory Capital Management Inc. increased its position in Alignment Healthcare by 10.4% during the first quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock worth $107,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in Alignment Healthcare during the first quarter worth about $112,000. 83.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. The Goldman Sachs Group boosted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 8th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and reduced their price target for the company from $18.00 to $14.00 in a report on Thursday, May 26th. Cowen boosted their price target on shares of Alignment Healthcare from $12.00 to $17.00 in a report on Monday, August 22nd. Finally, Cowen boosted their price target on shares of Alignment Healthcare from $12.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus target price of $18.55.

Alignment Healthcare Company Profile

(Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

Further Reading

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