Alignment Healthcare (NASDAQ:ALHC) Shares Gap Up – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $21.56, but opened at $22.54. Alignment Healthcare shares last traded at $22.07, with a volume of 455,737 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALHC shares. TD Cowen raised their price target on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Robert W. Baird set a $28.00 price target on Alignment Healthcare in a research report on Friday, January 30th. UBS Group raised their price target on Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Piper Sandler lifted their price objective on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Alignment Healthcare Stock Up 1.4%

The stock has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $19.21. The firm has a market cap of $4.46 billion, a PE ratio of -2,186.91, a PEG ratio of 3.10 and a beta of 1.20. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.71.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Sell-side analysts predict that Alignment Healthcare, Inc. will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 250,000 shares of Alignment Healthcare stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.01, for a total transaction of $5,252,500.00. Following the completion of the transaction, the chief executive officer owned 2,104,641 shares in the company, valued at approximately $44,218,507.41. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of Alignment Healthcare stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.84, for a total value of $655,602.16. Following the transaction, the president owned 1,058,813 shares of the company’s stock, valued at $18,889,223.92. The trade was a 3.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,474,097 shares of company stock valued at $28,679,550 in the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in Alignment Healthcare during the fourth quarter valued at about $26,000. Parallel Advisors LLC grew its holdings in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the period. Larson Financial Group LLC bought a new stake in Alignment Healthcare during the third quarter valued at about $33,000. First Horizon Corp bought a new stake in Alignment Healthcare during the fourth quarter valued at about $39,000. Finally, GAMMA Investing LLC grew its holdings in Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after purchasing an additional 987 shares during the period. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.