Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Expands By 6.0%

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 4,750,000 shares, a growth of 6.0% from the August 31st total of 4,480,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 4.5 days. Currently, 5.5% of the shares of the company are short sold.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now owns 406,912 shares in the company, valued at $3,682,553.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 23,163 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total transaction of $231,630.00. Following the completion of the sale, the insider now owns 1,892,934 shares in the company, valued at approximately $18,929,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,973 shares of company stock valued at $2,671,391. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after buying an additional 10,123 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the 1st quarter valued at approximately $57,000. Blue Trust Inc. grew its holdings in Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after buying an additional 82,476 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after buying an additional 93,262 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Trading Up 3.1 %

NASDAQ:ALHC opened at $11.47 on Monday. The stock has a 50-day simple moving average of $9.61 and a 200-day simple moving average of $7.71. The stock has a market cap of $2.19 billion, a P/E ratio of -13.65 and a beta of 1.43. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.36. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALHC shares. 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 research report on Friday, July 26th. TD Cowen boosted their price target 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. Barclays boosted their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price target 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, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.83.

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.