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

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 4,690,000 shares, a growth of 19.0% from the March 31st total of 3,940,000 shares. Currently, 5.2% of the shares of the stock are sold short. Based on an average daily volume of 901,700 shares, the short-interest ratio is presently 5.2 days.

Alignment Healthcare Stock Down 2.5 %

NASDAQ:ALHC opened at $5.08 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20. The stock’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $6.58. The firm has a market capitalization of $960.02 million, a P/E ratio of -6.43 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The company had revenue of $465.39 million for the quarter, compared to the consensus estimate of $444.56 million. During the same quarter last year, the business posted ($0.31) EPS. Alignment Healthcare’s quarterly revenue was up 28.6% on a year-over-year basis. Equities research analysts expect that Alignment Healthcare will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ALHC. Barclays initiated coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. UBS Group dropped their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Stifel Nicolaus decreased their price objective on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Finally, Stephens upped their price target on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.18.

Insider Activity

In related news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the transaction, the chief financial officer now owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the sale, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,213 shares of company stock worth $460,587. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of large investors have recently made changes to their positions in ALHC. Allspring Global Investments Holdings LLC grew its stake in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. Assenagon Asset Management S.A. increased its stake in Alignment Healthcare by 283.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after purchasing an additional 233,417 shares in the last quarter. Aigen Investment Management LP increased its stake in Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Alignment Healthcare during the 4th quarter worth approximately $575,000. 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.