Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.90, but opened at $13.60. Alignment Healthcare shares last traded at $13.92, with a volume of 111,699 shares.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALHC shares. KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.88.

Alignment Healthcare Price Performance

The business’s fifty day moving average is $11.91 and its 200-day moving average is $10.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $2.62 billion, a PE ratio of -17.74 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. On average, research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,273,100 shares in the company, valued at $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hakan Kardes sold 4,500 shares of Alignment Healthcare stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $12.98, for a total transaction of $58,410.00. Following the sale, the insider now owns 375,944 shares of the company’s stock, valued at approximately $4,879,753.12. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 509,224 shares of company stock worth $6,399,990. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently made changes to their positions in ALHC. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $131,000. Creative Planning lifted its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after buying an additional 19,129 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Alignment Healthcare in the third quarter worth $315,000. 86.19% of the stock is currently owned by institutional investors.

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.