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

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,050,000 shares, a decrease of 13.3% from the January 15th total of 9,280,000 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 8.7% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALHC. Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Stephens restated an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 2nd. Finally, UBS Group upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.88.

Alignment Healthcare Price Performance

ALHC traded up $0.29 on Thursday, reaching $14.37. The company had a trading volume of 1,540,676 shares, compared to its average volume of 1,772,339. The company has a fifty day moving average of $13.16 and a 200-day moving average of $11.73. The company has a market capitalization of $2.75 billion, a P/E ratio of -18.66 and a beta of 1.50. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a one year low of $4.46 and a one year high of $15.82.

Insider Activity

In related news, COO Sebastian Burzacchi sold 8,550 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now directly owns 217,395 shares of the company's stock, valued at $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hakan Kardes sold 10,500 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total transaction of $157,395.00. Following the completion of the sale, the insider now directly owns 309,944 shares in the company, valued at $4,646,060.56. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 476,002 shares of company stock worth $6,220,726. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company's stock valued at $110,453,000 after purchasing an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of Alignment Healthcare by 39.6% during the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock valued at $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC boosted its position in shares of Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company's stock valued at $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. 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.