Alight Inc (NYSE:ALIT) price on Thursday, November 14, fall -6.29% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.89.
A look at the stock’s price movement, the close in the last trading session was $8.42, moving within a range at $7.86 and $8.35. The beta value (5-Year monthly) was 1.076. Turning to its 52-week performance, $10.38 and $6.15 were the 52-week high and 52-week low respectively. Overall, ALIT moved 6.48% over the past month.
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Alight Inc’s market cap currently stands at around $4.32 billion, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 676.79M for the company’s revenue for the quarter, with a low and high estimate of 670.7M and 683.9M respectively. The average forecast suggests down to a -29.50% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.33B, representing a -31.55% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ALIT is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend ALIT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ALIT’s current price about 8.03% and 8.64% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.52, while 7-day volatility ratio is 5.78% and 3.29% in the 30-day chart. Further, Alight Inc (ALIT) has a beta value of 0.93, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $11 and high of $29. Looking at the price targets, the low is -39.42% off current price level while to achieve the yearly target high, price needs to move -267.55%. Nonetheless, investors will most likely welcome a -52.09% jump to $12 which is the analysts’ median price.
If we refocus on Alight Inc (NYSE:ALIT), historical trading data shows that trading volumes averaged 7.38 over the past 10 days and 4.60 million over the past 3 months. The company’s latest data on shares outstanding shows there are 510.89 million shares.
The 18.21% of Alight Inc’s shares are in the hands of company insiders while institutional holders own 93.53% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 36.74 million on 2024-10-31, giving us a short ratio of 12.32. The data shows that as of 2024-10-31 short interest in Alight Inc (ALIT) stood at 724.9999999999999 of shares outstanding, with shares short falling to 40.14 million registered in 2024-09-30. Current price change has pushed the stock -7.50% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ALIT stock continues to rise going into the next quarter.
