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

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

Alignment Healthcare Stock Performance

ALHC stock opened at $12.61 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -16.38 and a beta of 1.45. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $14.25. 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 stock’s fifty day moving average price is $11.81 and its 200-day moving average price is $9.75.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. On average, equities analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the sale, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph S. Konowiecki sold 6,920 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the completion of the sale, the director now owns 1,134,888 shares in the company, valued at $15,582,012.24. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 543,433 shares of company stock worth $6,543,028. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C lifted its position in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. lifted its position 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. Hood River Capital Management LLC raised its holdings in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after acquiring an additional 185,854 shares during the period. William Blair Investment Management LLC raised its holdings in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Alignment Healthcare by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after acquiring an additional 32,839 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird upped their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average price target of $10.33.

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.