A share of Alignment Healthcare Inc. (NASDAQ:ALHC) closed at $5.78 per share on Thursday, down from $6.00 day before. While Alignment Healthcare Inc. has underperformed by -3.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALHC fell by -62.07%, with highs and lows ranging from $19.17 to $4.88, whereas the simple moving average fell by -34.97% in the last 200 days.
On May 01, 2023, Raymond James Upgraded Alignment Healthcare Inc. (NASDAQ: ALHC) to Outperform.
Analysis of Alignment Healthcare Inc. (ALHC)
Further, the quarter-over-quarter increase in sales is 27.10%, showing a positive trend in the upcoming months.
Alignment Healthcare Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -56.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, 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.
For any stock, average volume can be an extremely valuable indicator of volatility, and ALHC is registering an average volume of 922.90K. On a monthly basis, the volatility of the stock is set at 5.23%, whereas on a weekly basis, it is put at 6.33%, with a loss of -0.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.75, showing growth from the present price of $5.78, 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?
Besides checking the fundamentals, you should also know how many employees own shares in the company. 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 increased by 4.85% in the first quarter. The company now owns 16,668,909 shares of the stock, with a value of $95.85 million, following the purchase of 770,501 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 25.64%. During the last quarter, the company dropped down 2,171,842 additional shares for a total stake of worth $61.19 million, bringing number of shares owned by the company to 10,642,023.
During the first quarter, The Vanguard Group, Inc. subtracted a -162,436 position in ALHC. BlackRock Fund Advisors sold an additional 64628.0 shares in the last quarter, decreasing its holdings by -1.11%, now holding 5.75 million shares worth $33.05 million. At the end of the first quarter, Durable Capital Partners LP increased its ALHC holdings by 43.65% and now holds 5.41 million ALHC shares valued at $31.12 million with the added 1.64 million shares during the period. ALHC shares are owned by institutional investors to the tune of 84.20% at present.