Align Technology, Inc. (NASDAQ:ALGN – Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,780,000 shares, an increase of 31.3% from the February 13th total of 2,880,000 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average trading volume of 864,700 shares, the days-to-cover ratio is currently 4.4 days.
Align Technology Trading Up 2.0 %
Shares of ALGN stock opened at $169.59 on Tuesday. Align Technology has a 1 year low of $158.13 and a 1 year high of $335.40. The firm’s fifty day moving average price is $202.63 and its two-hundred day moving average price is $218.32. The firm has a market capitalization of $12.48 billion, a P/E ratio of 30.23, a PEG ratio of 2.24 and a beta of 1.69.
Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts forecast that Align Technology will post 7.98 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ALGN shares. Morgan Stanley reduced their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Jefferies Financial Group reduced their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $269.91.
View Our Latest Research Report on Align Technology
Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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