Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Increases By 19.0%

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a significant growth in short interest in the month of 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. Based on an average daily volume of 901,700 shares, the days-to-cover ratio is presently 5.2 days. Currently, 5.2% of the shares of the stock are short sold.

Alignment Healthcare Trading Up 1.0 %

Alignment Healthcare stock traded up $0.05 during trading hours on Friday, reaching $5.21. 497,553 shares of the company were exchanged, compared to its average volume of 700,151. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average of $5.22 and a 200 day moving average of $6.59. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) 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 business had revenue of $465.39 million for the quarter, compared to analyst estimates of $444.56 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alignment Healthcare will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALHC. UBS Group cut their price objective on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Stephens upped their target price on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Piper Sandler reiterated a “neutral” rating and issued a $6.00 target price (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Raymond James upped their target price on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.18.

Insider Buying and Selling

In related news, CEO John E. Kao acquired 103,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $4.82 per share, with a total value of $496,460.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alignment Healthcare news, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now owns 2,745,253 shares in the company, valued at $13,232,119.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $4.89, for a total transaction of $57,985.62. Following the completion of the sale, the chief financial officer now owns 898,228 shares in the company, valued at $4,392,334.92. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock valued at $460,587 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALHC. Assenagon Asset Management S.A. raised its stake in Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after acquiring an additional 233,417 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after acquiring an additional 3,334 shares in the last quarter. Aigen Investment Management LP raised its stake in Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares in the last quarter. Jump Financial LLC acquired a new position in Alignment Healthcare during the fourth quarter worth $575,000. Finally, Barlow Wealth Partners Inc. acquired a new position in Alignment Healthcare during the fourth quarter worth $100,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.