The stock of Alignment Healthcare Inc (NASDAQ:ALHC) last traded at $11.27, up 12.65% from the previous session.
ALHC stock price is now 16.53% away from the 50-day moving average and 49.25% away from the 200-day moving average. The market capitalization of the company currently stands at $2.15B.
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With the price target enhanced from $7.75 to $11, BofA Securities Upgraded its rating from Neutral to Buy for Alignment Healthcare Inc (NASDAQ: ALHC). On May 30, 2024, Robert W. Baird recently initiated its ‘Outperform’ rating on the stock quoting a target price of $10, while ‘Piper Sandler’ rates the stock as ‘Overweight’
In other news, Warburg Pincus LLC, Affiliate bought 4,300,000 shares of the company’s stock on Sep 20 ’24. The stock was bought for $48,977,000 at an average price of $11.39. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 16 ’24, President, Markets Maroney Dawn Christine sold 30,000 shares of the business’s stock. A total of $351,027 was realized by selling the stock at an average price of $11.70. This leaves the insider owning 1,756,097 shares of the company worth $19.79 million. A total of 54.40% of the company’s stock is owned by insiders.
During the past 12 months, Alignment Healthcare Inc has had a low of $4.46 and a high of $12.36. The fifty day moving average price for ALHC is $9.7019 and a two-hundred day moving average price translates $7.562025 for the stock.
The latest earnings results from Alignment Healthcare Inc (NASDAQ: ALHC) was released for 2024-06-30. The net profit margin was -6.85% and return on equity was -91.58% for ALHC. The company reported revenue of $681.29 million for the quarter, compared to $462.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.34 percent.
