Alphatec Holdings, Inc. (ATEC) Sees Large Increase in Short Interest
Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 962,092 shares, an increase of 36.9% from the September 29th total of 702,968 shares. Based on an average trading volume of 366,407 shares, the days-to-cover ratio is currently 2.6 days. Approximately 13.4% of the company’s shares are short sold.
Institutional investors and hedge funds have recently modified their holdings of the stock. Fondren Management LP raised its holdings in Alphatec Holdings by 20.8% in the 2nd quarter. Fondren Management LP now owns 220,534 shares of the medical technology company’s stock valued at $408,000 after buying an additional 37,933 shares during the period. Sabby Management LLC purchased a new stake in Alphatec Holdings in the 2nd quarter valued at about $629,000. Finally, Broadfin Capital LLC raised its holdings in Alphatec Holdings by 163.1% in the 2nd quarter. Broadfin Capital LLC now owns 594,533 shares of the medical technology company’s stock valued at $1,100,000 after buying an additional 368,527 shares during the period. Hedge funds and other institutional investors own 20.56% of the company’s stock.
Several brokerages have recently weighed in on ATEC. HC Wainwright began coverage on shares of Alphatec Holdings in a research note on Monday, August 14th. They issued a “buy” rating and a $4.00 target price on the stock. ValuEngine downgraded shares of Alphatec Holdings from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Finally, Lake Street Capital began coverage on shares of Alphatec Holdings in a research note on Monday, October 16th. They issued a “buy” rating and a $7.00 target price on the stock.
Alphatec Holdings (NASDAQ ATEC) opened at 3.87 on Friday. The company has a 50-day moving average of $2.96 and a 200 day moving average of $2.18. The stock’s market cap is $42.75 million. Alphatec Holdings has a 1-year low of $1.58 and a 1-year high of $6.78.
Alphatec Holdings (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, August 10th. The medical technology company reported ($0.32) earnings per share (EPS) for the quarter. The company had revenue of $24.38 million for the quarter. Analysts predict that Alphatec Holdings will post ($1.20) EPS for the current year.
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Alphatec Holdings Company Profile
Alphatec Holdings, Inc is a medical technology company. The Company through its subsidiary, Alphatec Spine, Inc and its subsidiaries, designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Its product portfolio and pipeline addresses the cervical, thoracolumbar and intervertebral regions of the spine and covers a range of spinal disorders and surgical procedures.
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