Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) gapped up before the market opened on Thursday . The stock had previously closed at $18.18, but opened at $18.90. Alignment Healthcare shares last traded at $19.06, with a volume of 2,114 shares changing hands.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Alignment Healthcare from a “sell” rating to a “hold” rating in a report on Monday, July 19th. Barclays assumed coverage on Alignment Healthcare in a research report on Thursday, August 12th. They set an “overweight” rating and a $25.00 price target for the company. Morgan Stanley dropped their price target on Alignment Healthcare from $38.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Raymond James dropped their price target on Alignment Healthcare from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, August 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.43.
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The stock has a 50-day moving average of $20.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 3.41.
Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Sunday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.14). On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.97 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. General Atlantic LLC bought a new stake in Alignment Healthcare in the 1st quarter worth approximately $1,673,887,000. Warburg Pincus LLC bought a new stake in Alignment Healthcare in the 1st quarter worth approximately $543,924,000. FMR LLC lifted its position in Alignment Healthcare by 9.4% in the 2nd quarter. FMR LLC now owns 16,835,900 shares of the company’s stock worth $382,596,000 after buying an additional 1,441,075 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alignment Healthcare by 0.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,877,237 shares of the company’s stock worth $176,852,000 after purchasing an additional 47,690 shares during the period. Finally, BlackRock Inc. increased its stake in Alignment Healthcare by 63.3% in the 2nd quarter. BlackRock Inc. now owns 3,084,738 shares of the company’s stock worth $72,091,000 after purchasing an additional 1,196,247 shares during the period. Institutional investors own 79.05% of the company’s stock.
About Alignment Healthcare (NASDAQ:ALHC)
Alignment Healthcare, Inc provides a consumer-centric platform that delivers customized health care to seniors in the United States. It offers medicare advantage plans and health plan options to its partners and patients with customized care and service; and preferred provider organization offerings.
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