Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Down 10.3% in November

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 10,590,000 shares, a decline of 10.3% from the October 31st total of 11,810,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is presently 4.7 days.

Alphatec Price Performance

Shares of ATEC traded down $0.29 during trading hours on Monday, reaching $10.19. 264,323 shares of the company traded hands, compared to its average volume of 1,941,296. The stock has a market capitalization of $1.45 billion, a PE ratio of -8.09 and a beta of 1.31. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $8.18. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after purchasing an additional 2,534 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 1,300 shares during the period. XTX Topco Ltd acquired a new stake in shares of Alphatec in the third quarter worth approximately $69,000. Cetera Advisors LLC increased its position in Alphatec by 15.6% during the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new position in Alphatec during the third quarter worth approximately $76,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

ATEC has been the topic of a number of recent analyst reports. Lake Street Capital dropped their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Alphatec in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.