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Alight Inc. (NYSE: ALIT): What Matters Now

Alight Inc. (NYSE:ALIT) shares, rose in value on Wednesday, 06/22/22, with the stock price up by 1.16% to the previous day’s close as strong demand from buyers drove the stock to $6.95.

Actively observing the price movement in the last trading, the stock closed the session at $6.87, falling within a range of $6.71 and $6.97. Referring to stock’s 52-week performance, its high was $13.34, and the low was $6.70. On the whole, ALIT has fluctuated by -11.80% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.12, which is expected to increase to $0.14 for fiscal year $0.58 and then to about $0.7 by fiscal year 2023.

Analysts have estimated the company’s revenue for the quarter at $719.87 million, with a low estimate of $719.36 million and a high estimate of $720.37 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $3.11 billion, representing an increase of 6.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ALIT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ALIT currently trading nearly -11.18% and -15.89% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.06, while the 7-day volatility ratio is showing 5.35% which for the 30-day chart, stands at 5.33%. Furthermore, Alight Inc. (ALIT)’s average true range (ATR) is 0.46.

Data on historical trading for Alight Inc. (NYSE:ALIT) indicates that the trading volumes over the past 10 days have averaged 3.12 million and over the past 3 months, they’ve averaged 3.51 million. According to company’s latest data on outstanding shares, there are 456.84 million shares outstanding.

Nearly 3.10% of Alight Inc.’s shares belong to company insiders and institutional investors own 96.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.81 million shares as on Apr 28, 2022, resulting in a short ratio of 2.82. According to the data, the short interest in Alight Inc. (ALIT) stood at 1.46% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 5.96 million. The stock has fallen by -35.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ALIT stock heading into the next quarter.

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