In the latest trading session, 0.44 million Alignment Healthcare Inc (NASDAQ:ALHC) shares changed hands as the company’s beta touched 1.43. With the company’s most recent per share price at $12.98 changing hands around $0.14 or 1.09% at last look, the market valuation stands at $2.49B. ALHC’s current price is a discount, trading about -9.78% off its 52-week high of $14.25. The share price had its 52-week low at $4.46, which suggests the last value was 65.64% up since then. When we look at Alignment Healthcare Inc’s average trading volume, we note the 10-day average is 2.14 million shares, with the 3-month average coming to 1.80 million.
Analysts gave the Alignment Healthcare Inc (ALHC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.85. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended ALHC as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Alignment Healthcare Inc’s EPS for the current quarter is expected to be -0.09.
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Alignment Healthcare Inc (NASDAQ:ALHC) trade information
Instantly ALHC is in green as seen in intraday trades today. With action 4.76%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 50.75%, with the 5-day performance at 4.76% in the green. However, in the 30-day time frame, Alignment Healthcare Inc (NASDAQ:ALHC) is 0.23% up. Looking at the short shares, we see there were 3.77 million shares sold at short interest cover period of 2.04 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9.5, meaning bulls need a downside of -36.63% from its recent market value. According to analyst projections, ALHC’s forecast low is 7 with 12 as the target high. To hit the forecast high, the stock’s price needs a 7.55% surge from its current level, while the stock would need to tank 46.07% for it to hit the projected low.
Alignment Healthcare Inc (ALHC) estimates and forecasts
Data shows that the Alignment Healthcare Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 65.35% over the past 6 months, a 12.66% in annual growth rate that is considerably higher than the industry average of 5.10%. Year-over-year growth is forecast to reach 46.81% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of 675.47M. 7 analysts are of the opinion that Alignment Healthcare Inc’s revenue for the current quarter will be 846.8M. The company’s revenue for the corresponding quarters a year ago was 465.39M and 628.6M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 45.14%. The estimates for the next quarter sales put growth at 34.71%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -35.06%. The 2024 estimates are for Alignment Healthcare Inc earnings to increase by 13.32%.
ALHC Dividends
Alignment Healthcare Inc is expected to release its next quarterly earnings report in January.
Alignment Healthcare Inc (NASDAQ:ALHC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.13% of Alignment Healthcare Inc shares while 87.31% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.04%. There are 87.31% institutions holding the Alignment Healthcare Inc stock share, with GENERAL ATLANTIC, L.P. the top institutional holder. As of 2024-06-30, the company held 32.2707% of the shares, roughly 60.99 million ALHC shares worth $476.97 million.
WARBURG PINCUS LLC holds the second largest percentage of outstanding shares, with 9.4827% or 17.92 million shares worth $140.16 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Fidelity Select Portfolios – Health Care and Fidelity Advisor Health Care Fund. With 5.6 shares estimated at $72.18 million under it, the former controlled 2.92% of total outstanding shares. On the other hand, Fidelity Advisor Health Care Fund held about 1.83% of the shares, roughly 3.5 shares worth around $45.12 million.
