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

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 9,350,000 shares, a drop of 15.8% from the November 30th total of 11,110,000 shares. Currently, 10.2% of the shares of the company are sold short. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 5.1 days.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $11.16 on Tuesday. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $14.25. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -14.49 and a beta of 1.42. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50-day moving average of $11.87 and a 200-day moving average of $10.31.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several research analyst reports. Stephens upgraded Alignment Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $17.00 in a research report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.44.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the sale, the chief financial officer now directly owns 159,626 shares of the company’s stock, valued at approximately $1,917,108.26. The trade was a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hakan Kardes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $12.98, for a total value of $58,410.00. Following the transaction, the insider now owns 375,944 shares of the company’s stock, valued at $4,879,753.12. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 631,504 shares of company stock valued at $7,639,287. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares during the period. Rhumbline Advisers increased its stake in shares of Alignment Healthcare by 13.3% during the second quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock worth $1,074,000 after purchasing an additional 16,083 shares during the period. William Blair Investment Management LLC lifted its holdings in Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares during the period. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.