Alignment Healthcare, Inc. (NASDAQ:ALHC) Sees Large Drop in Short Interest

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 8,050,000 shares, a drop of 13.3% from the January 15th total of 9,280,000 shares. Approximately 8.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,980,000 shares, the days-to-cover ratio is presently 4.1 days.

Wall Street Analyst Weigh In

ALHC has been the subject of several recent research reports. Barclays lifted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Thursday, January 2nd. UBS Group lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.88.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $13.68 on Monday. The company’s fifty day moving average price is $12.95 and its 200 day moving average price is $11.63. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $15.82. The stock has a market capitalization of $2.62 billion, a P/E ratio of -17.77 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the transaction, the insider now directly owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the transaction, the chief executive officer now directly owns 2,183,100 shares of the company’s stock, valued at $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 446,002 shares of company stock valued at $5,809,126. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. R Squared Ltd acquired a new stake in Alignment Healthcare during the 4th quarter worth $55,000. nVerses Capital LLC acquired a new stake in Alignment Healthcare during the 3rd quarter worth $95,000. RiverPark Advisors LLC acquired a new stake in Alignment Healthcare during the 4th quarter worth $106,000. Tower Research Capital LLC TRC boosted its stake in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Alignment Healthcare during the 4th quarter worth $121,000. Institutional investors and hedge funds 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.