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

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 4,420,000 shares, a growth of 13.0% from the September 30th total of 3,910,000 shares. Currently, 5.1% of the company's shares are short sold. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several analyst reports. Stifel Nicolaus boosted 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. Barclays upped their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an "underweight" rating in a research report on Monday, August 5th. 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. Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Finally, TD Cowen upped their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare has an average rating of "Moderate Buy" and an average target price of $9.83.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded up $0.17 on Tuesday, reaching $11.71. 1,326,648 shares of the company were exchanged, compared to its average volume of 1,014,145. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -13.94 and a beta of 1.47. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $12.36. The company has a 50-day moving average of $10.55 and a 200-day moving average of $8.64. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

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

Insider Activity

In other news, CFO Robert Thomas Freeman sold 8,561 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the sale, the chief financial officer now directly owns 399,429 shares of the company's stock, valued at approximately $3,998,284.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the transaction, the chief executive officer now owns 2,543,100 shares of the company's stock, valued at $28,813,323. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,940 shares of company stock valued at $3,487,014. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

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 worth about $57,000. Virtu Financial LLC purchased a new position in Alignment Healthcare in the first quarter valued at approximately $57,000. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $95,000. Creative Planning raised its stake in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after purchasing an additional 2,072 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company's stock worth $196,000 after buying an additional 3,334 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.