Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Down 14.5% in May

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 8,890,000 shares, a drop of 14.5% from the April 30th total of 10,400,000 shares. Based on an average trading volume of 3,310,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 6.8% of the shares of the stock are sold short.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.43 on Friday, hitting $15.22. The company's stock had a trading volume of 1,951,057 shares, compared to its average volume of 2,010,981. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $3.01 billion, a P/E ratio of -19.77 and a beta of 1.22. Alignment Healthcare has a 52-week low of $7.05 and a 52-week high of $21.06. The firm has a fifty day moving average price of $16.70 and a 200-day moving average price of $14.81.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company's quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the company earned ($0.25) earnings per share. On average, equities research analysts expect that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $109,781.60. Following the transaction, the chief operating officer now directly owns 250,378 shares in the company, valued at $4,106,199.20. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the completion of the sale, the director now owns 44,302,175 shares in the company, valued at approximately $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,784,649 shares of company stock valued at $273,320,208. 7.00% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Hedge funds have recently made changes to their positions in the company. MCF Advisors LLC raised its stake in shares of Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after purchasing an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Alignment Healthcare in the first quarter worth $42,000. Amalgamated Bank increased its stake in shares of Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after buying an additional 616 shares during the last quarter. RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter worth $106,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after buying an additional 6,286 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALHC. Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. Robert W. Baird boosted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Piper Sandler boosted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Finally, Stephens raised Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.17.

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.