Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alight Inc. shares valued at $4,203,368 were sold by Scholl Stephan on Mar 20 ’24. At $9.81 per share, Scholl Stephan sold 428,574 shares. The insider’s holdings dropped to 8,198,199 shares worth approximately $80.26 million following the completion of this transaction.
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Also, Tulsiani Dinesh V sold 2,498 shares, netting a total of over 24,980 in proceeds. Following the sale of shares at $10.00 each, the insider now holds 746,169 shares.
Before that, Rooney Katie J. had sold 5,454 shares from its account. In a trade valued at $49,588, the insider traded Alight Inc. shares for $9.09 each. Upon closing the transaction, the insider’s holdings decreased to 5,454 shares, worth approximately $28.96 million.
Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of November 07, 2023, UBS has initiated its “Buy” rating for ALIT. Earlier on June 13, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for ALIT stock.
Analyzing ALIT Stock Performance
During the last five days, there has been a drop of approximately -2.88%. Over the course of the year, Alight Inc. shares have jumped approximately 14.77%. Shares of the company reached a 52-week high of $10.38 on 03/22/24 and a 52-week low of $8.03 on 01/18/24. A 50-day SMA is recorded $9.15, while a 200-day SMA reached $8.32. Nevertheless, trading volume fell to 4.94 million shares from 2.96 million shares the previous day.
Support And Resistance Levels for Alight Inc. (ALIT)
According to the 24-hour chart, there is a support level at 9.72, which, if violated, would cause prices to drop to 9.65. In the upper region, resistance lies at 9.88. The next price resistance is at 9.97. RSI (Relative Strength Index) is 60.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.47, which suggests the price will decrease in the coming days. Percent R is at 33.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alight Inc. subject to short interest?
Stocks of Alight Inc. saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.97 million shares to 21.5 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 19.53 million shares. A jump of 9.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.59.
