Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Up 6.0% in September

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,750,000 shares, an increase of 6.0% from the August 31st total of 4,480,000 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 4.5 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, July 26th. TD Cowen raised their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 6th. Robert W. Baird increased their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. Finally, Barclays boosted their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an "underweight" rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Alignment Healthcare Stock Up 3.1 %

Shares of ALHC traded up $0.35 during mid-day trading on Monday, reaching $11.82. 1,442,966 shares of the stock traded hands, compared to its average volume of 955,120. The stock has a fifty day simple moving average of $9.61 and a 200 day simple moving average of $7.71. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $12.36. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -13.81 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company had revenue of $681.29 million during the quarter, compared to analysts' expectations of $637.66 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. Sell-side analysts expect that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 22,100 shares of the business's stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total value of $221,000.00. Following the transaction, the chief financial officer now directly owns 497,329 shares of the company's stock, valued at approximately $4,973,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Dawn Christine Maroney sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the transaction, the insider now directly owns 1,796,097 shares of the company's stock, valued at approximately $15,626,043.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Thomas Freeman sold 22,100 shares of the firm's stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the transaction, the chief financial officer now owns 497,329 shares of the company's stock, valued at approximately $4,973,290. The disclosure for this sale can be found here. Insiders sold a total of 267,973 shares of company stock worth $2,671,391 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALHC. Principal Financial Group Inc. acquired a new stake in shares of Alignment Healthcare during the 1st quarter valued at approximately $57,000. Virtu Financial LLC bought a new stake in shares of Alignment Healthcare during the 1st quarter valued at about $57,000. Allspring Global Investments Holdings LLC lifted its holdings in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company's stock worth $196,000 after acquiring an additional 3,334 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock valued at $286,000 after purchasing an additional 19,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company's stock worth $434,000 after purchasing an additional 9,595 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.