Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 7.5% – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price rose 7.5% on Tuesday . The company traded as high as $11.99 and last traded at $11.66. Approximately 1,214,676 shares traded hands during trading, an increase of 20% from the average daily volume of 1,010,232 shares. The stock had previously closed at $10.85.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Barclays increased their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. TD Cowen raised their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Robert W. Baird raised their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Alignment Healthcare Trading Up 11.0 %

The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The company has a fifty day moving average of $9.81 and a 200-day moving average of $7.96. The firm has a market capitalization of $2.30 billion, a PE ratio of -14.33 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Dawn Christine Maroney sold 23,163 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $231,630.00. Following the sale, the insider now directly owns 1,892,934 shares of the company’s stock, valued at $18,929,340. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now directly owns 406,912 shares in the company, valued at approximately $3,682,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 290,015 shares of company stock valued at $2,907,113. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in ALHC. Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Alignment Healthcare during the first quarter worth about $57,000. Blue Trust Inc. lifted its stake in Alignment Healthcare by 47.4% during the first quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after purchasing an additional 82,476 shares during the period. Vanguard Group Inc. boosted its holdings in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in Alignment Healthcare by 49.6% during the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.