Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alignment Healthcare Inc shares valued at $49,131 were sold by Maroney Dawn Christine on Mar 28 ’24. At $4.84 per share, Maroney Dawn Christine sold 10,151 shares. The insider’s holdings dropped to 1,976,097 shares worth approximately $13.4 million following the completion of this transaction.
Also, Kardes Hakan sold 4,363 shares, netting a total of over 21,117 in proceeds. Following the sale of shares at $4.84 each, the insider now holds 430,444 shares.
Before that, Freeman Robert Thomas had sold 4,299 shares from its account. In a trade valued at $20,807, the Chief Financial Officer traded Alignment Healthcare Inc shares for $4.84 each. Upon closing the transaction, the insider’s holdings decreased to 4,299 shares, worth approximately $5.87 million.
As published in a research note from Piper Sandler on May 08, 2024, Alignment Healthcare Inc [ALHC] has been rated up from a Neutral to an Overweight and the price target has been revised to $8 from $6. Analysts at Barclays started covering the stock with ‘”an Underweight”‘ outlook in a report released in early March. As of March 06, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for ALHC. Earlier on January 24, 2024, Stifel initiated its rating. Their recommendation was “a Buy” for ALHC stock.
Analyzing ALHC Stock Performance
During the last five days, there has been a surge of approximately 29.89%. Over the course of the year, Alignment Healthcare Inc shares have dropped approximately -21.25%. Shares of the company reached a 52-week high of $9.20 on 01/10/24 and a 52-week low of $4.46 on 04/03/24. A 50-day SMA is recorded $5.17, while a 200-day SMA reached $6.46. Nevertheless, trading volume fell to 1.6 million shares from 1.67 million shares the previous day.
Support And Resistance Levels for Alignment Healthcare Inc (ALHC)
According to the 24-hour chart, there is a support level at 6.54, which, if violated, would cause prices to drop to 6.29. In the upper region, resistance lies at 7.19. The next price resistance is at 7.59. RSI (Relative Strength Index) is 77.50 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.19, which suggests the price will increase in the coming days. Percent R is at 23.41%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
