Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alignment Healthcare Inc shares valued at $388,790 were sold by Freeman Robert Thomas on Jul 19 ’24. At $10.01 per share, Freeman Robert Thomas sold 38,858 shares. The insider’s holdings dropped to 414,429 shares worth approximately $3.62 million following the completion of this transaction.
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Also, Maroney Dawn Christine sold 36,700 shares, netting a total of over 367,209 in proceeds. Following the sale of shares at $10.01 each, the insider now holds 1,816,097 shares.
Before that, Freeman Robert Thomas had sold 44,042 shares from its account. In a trade valued at $440,433, the Chief Financial Officer traded Alignment Healthcare Inc shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 44,042 shares, worth approximately $3.96 million.
As published in a research note from BofA Securities on May 30, 2024, Alignment Healthcare Inc [ALHC] has been rated up from a Neutral to a Buy and the price target has been revised to $11 from $7.75. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of May 08, 2024, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for ALHC. Earlier on March 06, 2024, Barclays initiated its rating. Their recommendation was “an Underweight” for ALHC stock.
Analyzing ALHC Stock Performance
During the last five days, there has been a drop of approximately -5.92%. Over the course of the year, Alignment Healthcare Inc shares have jumped approximately 1.51%. Shares of the company reached a 52-week high of $10.16 on 07/22/24 and a 52-week low of $4.46 on 04/03/24. A 50-day SMA is recorded $8.23, while a 200-day SMA reached $6.97. Nevertheless, trading volume fell to 1.68 million shares from 0.99 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 8.46, which, if violated, would cause prices to drop to 8.17. In the upper region, resistance lies at 8.97. The next price resistance is at 9.19. RSI (Relative Strength Index) is 50.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.66, which suggests the price will decrease in the coming days. Percent R is at 80.68%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
