The share price of Alignment Healthcare Inc. (NASDAQ:ALHC) rose to $7.15 per share on Wednesday from $6.97. While Alignment Healthcare Inc. has overperformed by 2.58%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALHC fell by -38.63%, with highs and lows ranging from $19.17 to $5.49, whereas the simple moving average fell by -40.63% in the last 200 days.
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On February 23, 2023, JP Morgan Downgraded Alignment Healthcare Inc. (NASDAQ: ALHC) to Neutral. A report published by Raymond James on November 21, 2022, Downgraded its rating to ‘Mkt Perform’ for ALHC. Piper Sandler also rated ALHC shares as ‘Overweight’, setting a target price of $19 on the company’s shares in an initiating report dated September 08, 2022. BofA Securities May 26, 2022d the rating to Buy on May 26, 2022, and set its price target from $18 to $14. Goldman initiated its ‘Buy’ rating for ALHC, as published in its report on December 14, 2021. JP Morgan’s report from December 03, 2021 suggests a price prediction of $20 for ALHC shares, giving the stock a ‘Overweight’ rating. Cowen also rated the stock as ‘Outperform’.
Analysis of Alignment Healthcare Inc. (ALHC)
Further, the quarter-over-quarter increase in sales is 21.30%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Alignment Healthcare Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -54.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and ALHC is recording an average volume of 877.09K. On a monthly basis, the volatility of the stock is set at 6.23%, whereas on a weekly basis, it is put at 5.68%, with a gain of 17.60% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.57, showing growth from the present price of $7.15, which can serve as yet another indication of whether ALHC is worth investing in or should be passed over.
How Do You Analyze Alignment Healthcare Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 84.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ALHC shares?
The recent increase in stakes in ALHC appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in ALHC has decreased by -0.33% in the first quarter. The company now owns 15,898,408 shares of the stock, with a value of $158.03 million, following the sale of -52,463 additional shares during the last quarter. T. Rowe Price Investment Manageme made another increased to its shares in ALHC during the first quarter, upping its stake by 15.07%. During the last quarter, the company picked up 1,108,973 additional shares for a total stake of worth $84.19 million, bringing number of shares owned by the company to 8,470,181.
During the first quarter, The Vanguard Group, Inc. added a 285,138 position in ALHC. BlackRock Fund Advisors purchased an additional 1.8 million shares in the last quarter, increasing its holdings by 44.82%, now holding 5.81 million shares worth $57.77 million. At the end of the first quarter, Durable Capital Partners LP increased its ALHC holdings by 270.32% and now holds 3.77 million ALHC shares valued at $37.45 million with the added 2.75 million shares during the period. ALHC shares are owned by institutional investors to the tune of 84.20% at present.
