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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,770,000 shares, a drop of 16.4% from the October 31st total of 4,510,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 6,920 shares of Alignment Healthcare stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. The trade was a 0.61 % 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. Also, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now directly owns 399,429 shares in the company, valued at $3,998,284.29. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 543,433 shares of company stock valued at $6,543,028 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Alignment Healthcare

Large investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alignment Healthcare in the third quarter worth approximately $131,000. Virtu Financial LLC bought a new position in Alignment Healthcare in the first quarter worth approximately $57,000. Creative Planning raised its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after buying an additional 2,077 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen lifted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. UBS Group lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Alignment Healthcare Stock Down 1.7 %

Shares of NASDAQ:ALHC opened at $12.61 on Friday. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $14.25. The business has a 50 day simple moving average of $11.81 and a two-hundred day simple moving average of $9.75. The firm has a market capitalization of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, equities analysts predict that Alignment Healthcare will post -0.69 EPS for the current year.

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.