Align Technology, Inc.’s filing revealed that its Director LACOB JOSEPH unloaded Company’s shares for reported $4.55 million on Feb 29 ’24. In the deal valued at $303.22 per share,15,000 shares were sold. As a result of this transaction, LACOB JOSEPH now holds 131,994 shares worth roughly $42.25 million.
Then, LACOB JOSEPH sold 10,000 shares, generating $3,130,075 in total proceeds. Upon selling the shares at $313.01, the Director now owns 146,994 shares.
Before that, Wright Emory sold 2,524 shares. Align Technology, Inc. shares valued at $725,533 were divested by the EVP, GLOBAL OPERATIONS at a price of $287.45 per share. As a result of the transaction, Wright Emory now holds 709 shares, worth roughly $0.23 million.
Leerink Partners initiated its Align Technology, Inc. [ALGN] rating to a Market perform in a research note published on February 26, 2024; the price target was $310. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in mid December from “a Neutral” to “a Sell”. UBS also remained covering ALGN and has decreased its forecast on October 27, 2023 with a “Neutral” recommendation from previously “Buy” rating. Goldman revised its rating on February 02, 2023. It rated ALGN as “a Neutral” which previously was an “a Sell”.
Price Performance Review of ALGN
On Monday, Align Technology, Inc. [NASDAQ:ALGN] saw its stock jump 0.78% to $320.06. Over the last five days, the stock has gained 0.13%. Align Technology, Inc. shares have risen nearly 16.81% since the year began. Nevertheless, the stocks have risen 0.96% over the past one year. While a 52-week high of $413.20 was reached on 03/21/24, a 52-week low of $176.34 was recorded on 01/03/24. SMA at 50 days reached $304.97, while 200 days put it at $294.35. A total of 0.64 million shares were traded, compared to the trading of 0.53 million shares in the previous session.
Levels Of Support And Resistance For ALGN Stock
The 24-hour chart illustrates a support level at 316.95, which if violated will result in even more drops to 313.84. On the upside, there is a resistance level at 322.57. A further resistance level may holdings at 325.08. The Relative Strength Index (RSI) on the 14-day chart is 55.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.31%. Stochastics %K at 48.38% indicates the stock is a holding.
How much short interest is there in Align Technology, Inc.?
A steep rise in short interest was recorded in Align Technology, Inc. stocks on Mar 15, 2024, dropping by -0.32 million shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.74 million shares. There was a decline of -22.54%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.15% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.33.
