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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a significant growth in short interest during 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 trading volume of 901,700 shares, the short-interest ratio is currently 5.2 days. Currently, 5.2% of the company’s shares are sold short.

Alignment Healthcare Price Performance

ALHC stock opened at $5.08 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84. The business has a 50-day simple moving average of $5.19 and a two-hundred day simple moving average of $6.58. The company has a market capitalization of $960.02 million, a P/E ratio of -6.43 and a beta of 1.30. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $9.20.

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

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction dated Friday, March 8th. The stock was 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 directly owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John E. Kao acquired 103,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $4.82 per share, with a total value 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 approximately $13,232,119.46. The disclosure for this purchase can be found here. Insiders have sold 90,213 shares of company stock worth $460,587 over the last ninety days. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in shares of Alignment Healthcare in the first quarter valued at about $57,000. Barlow Wealth Partners Inc. bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $100,000. Victory Capital Management Inc. boosted its stake in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after buying an additional 1,962 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Alignment Healthcare in the third quarter valued at approximately $109,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $116,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALHC has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Stephens lifted their price target on shares of Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Barclays began coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. UBS Group decreased their target price on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Raymond James increased their price target on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.18.

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.