In the last trading session, 3.83 million shares of the Alignment Healthcare Inc (NASDAQ:ALHC) were traded, and its beta was 1.42. Most recently the company’s share price was $11.09, and it changed around -$0.07 or -0.67% from the last close, which brings the market valuation of the company to $2.13B. ALHC currently trades at a discount to its 52-week high of $14.25, offering almost -28.49% off that amount. The share price’s 52-week low was $4.46, which indicates that the current value has risen by an impressive 59.78% since then. We note from Alignment Healthcare Inc’s average daily trading volume that its 10-day average is 2.96 million shares, with the 3-month average coming to 1.58 million.
Alignment Healthcare Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 19 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 4 recommended ALHC as a Hold, whereas 7 deemed it a Buy, and 1 rated it as Underweight. Alignment Healthcare Inc is expected to report earnings per share of -0.09 for the current quarter.
Alignment Healthcare Inc (NASDAQ:ALHC) trade information
Instantly ALHC has showed a red trend with a performance of -0.67% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 13.40 on recent trading dayincreased the stock’s daily price by 17.24%. The company’s shares are currently up 28.80% year-to-date, but still down -15.73% over the last five days. On the other hand, Alignment Healthcare Inc (NASDAQ:ALHC) is 6.12% up in the 30-day period. We can see from the shorts that 4.51 million shares have been sold at a short interest cover period of 2.77 day(s).
The consensus price target as assigned by Wall Street analysts is $9.5, which translates to bulls needing to decrease their stock price by -16.74% from its current value. Analyst projections state that ALHC is forecast to be at a low of $7 and a high of $12.
Alignment Healthcare Inc (ALHC) estimates and forecasts
Alignment Healthcare Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 48.86 percent over the past six months and at a 12.66% annual growth rate that is well above the industry average of 5.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 46.88% in revenue this quarter, and will report an increase of 19.35% in the next quarter. The year-over-year growth rate is expected to be 46.81%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 675.47M in revenue for the current quarter. 7 analysts expect Alignment Healthcare Inc to make 846.8M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 465.39M and 628.6M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 45.14%. Forecasts for the next quarter put sales growth at 34.71%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -35.06%.
ALHC Dividends
Alignment Healthcare Inc’s next quarterly earnings report is expected to be released in December.
Alignment Healthcare Inc (NASDAQ:ALHC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.17% of Alignment Healthcare Inc shares, and 87.31% of them are in the hands of institutional investors. The stock currently has a share float of 92.07%. Alignment Healthcare Inc stock is held by 194.0 institutions, with GENERAL ATLANTIC, L.P. being the largest institutional investor. By 2024-06-30, it held 32.2707% of the shares, which is about 60.99 million shares worth $476.97 million.
WARBURG PINCUS LLC, with 9.4827% or 17.92 million shares worth $140.16 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
