Alignment Healthcare Inc (NASDAQ:ALHC) price on Thursday, January 16, rose 4.68% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $14.55.
A look at the stock’s price movement, the close in the last trading session was $13.90, moving within a range at $13.5001 and $14.61. The beta value (5-Year monthly) was 1.455. Turning to its 52-week performance, $14.25 and $4.46 were the 52-week high and 52-week low respectively. Overall, ALHC moved 27.07% over the past month.
Alignment Healthcare Inc’s market cap currently stands at around $2.79 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 675.61M for the company’s revenue for the quarter, with a low and high estimate of 668.2M and 689.4M respectively. The average forecast suggests up to a 45.17% 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 2.68B, representing a 46.81% jump 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 ALHC is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
10 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 3 analyst(s) rate the stock as a Hold, 6 recommend ALHC as a Buy and 1 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.
ALHC’s current price about 24.58% and 20.45% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 76.79, while 7-day volatility ratio is 7.27% and 5.49% in the 30-day chart. Further, Alignment Healthcare Inc (ALHC) has a beta value of 1.45, and an average true range (ATR) of 0.68. Analysts have given the company’s stock an average 52-week price target of $11, forecast between a low of $7 and high of $12. Looking at the price targets, the low is 51.89% off current price level while to achieve the yearly target high, price needs to move 17.53%. Nonetheless, investors will most likely welcome a 24.4% jump to $11 which is the analysts’ median price.
If we refocus on Alignment Healthcare Inc (NASDAQ:ALHC), historical trading data shows that trading volumes averaged 1.85 over the past 10 days and 1.83 million over the past 3 months. The company’s latest data on shares outstanding shows there are 191.60 million shares.
The 51.93% of Alignment Healthcare Inc’s shares are in the hands of company insiders while institutional holders own 42.64% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.58 million on 2024-12-31, giving us a short ratio of 5.88. The data shows that as of 2024-12-31 short interest in Alignment Healthcare Inc (ALHC) stood at 780.0 of shares outstanding, with shares short falling to 11.11 million registered in 2024-11-29. Current price change has pushed the stock 29.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ALHC stock continues to rise going into the next quarter.
