Align Technology, Inc. (NASDAQ:ALGN – Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 3,780,000 shares, a growth of 31.3% from the February 13th total of 2,880,000 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 864,700 shares, the days-to-cover ratio is currently 4.4 days.
Align Technology Trading Up 3.5 %
Shares of NASDAQ ALGN opened at $166.20 on Monday. Align Technology has a 12-month low of $158.13 and a 12-month high of $335.40. The firm’s 50-day moving average price is $203.61 and its 200-day moving average price is $218.78. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 2.24 and a beta of 1.69.
Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities analysts predict that Align Technology will post 7.98 EPS for the current fiscal year.
Institutional Trading of Align Technology
Analysts Set New Price Targets
ALGN has been the topic of a number of research analyst reports. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.91.
Read Our Latest Stock Analysis on ALGN
Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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