Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Down 16.4% in November

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of a large drop in short interest during 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. Based on an average daily 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 Trading Down 1.7 %

Shares of ALHC opened at $12.61 on Monday. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $14.25. The stock has a market cap of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $11.81 and its 200-day moving average price is $9.77.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 8,561 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 543,433 shares of company stock worth $6,543,028. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C increased its stake in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of 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 worth $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Royce & Associates LP bought a new position in shares of Alignment Healthcare in the third quarter worth approximately $3,782,000. Renaissance Technologies LLC raised its stake in Alignment Healthcare by 16.8% in the second 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 in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Alignment Healthcare during the second quarter valued at approximately $1,512,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.