Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down - Should You Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $12.83, but opened at $11.10. Alignment Healthcare shares last traded at $11.51, with a volume of 5,217,110 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler reissued 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. UBS Group upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, August 6th. Stifel Nicolaus increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, Barclays raised their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.33.

Alignment Healthcare Stock Performance

The company has a market capitalization of $2.20 billion, a PE ratio of -14.92 and a beta of 1.45. The firm has a 50-day moving average of $11.55 and a two-hundred day moving average of $9.31. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS 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 analysts' expectations of $662.11 million. During the same quarter last year, the company earned ($0.19) EPS. The business's revenue was up 51.6% on a year-over-year basis. Research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Alignment Healthcare

In other news, insider Hakan Kardes sold 25,000 shares of Alignment Healthcare stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $11.48, for a total value of $287,000.00. Following the sale, the insider now owns 380,444 shares in the company, valued at $4,367,497.12. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.35, for a total transaction of $340,500.00. Following the sale, the insider now directly owns 1,696,097 shares of the company's stock, valued at $19,250,700.95. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 515,507 shares of company stock valued at $6,158,835 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Virtu Financial LLC purchased a new position in shares of Alignment Healthcare in the first quarter valued at approximately $57,000. nVerses Capital LLC purchased a new position in Alignment Healthcare in the 3rd quarter valued at $95,000. Principal Financial Group Inc. boosted its stake in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock worth $106,000 after purchasing an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare during the third quarter worth $131,000. Finally, Creative Planning raised its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after buying an additional 2,072 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.