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 $48,977,000 were purchased by Warburg Pincus LLC on Sep 20 ’24. At $11.39 per share, Warburg Pincus LLC acquired 4,300,000 shares.
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Also, Maroney Dawn Christine sold 30,000 shares, netting a total of over 351,027 in proceeds. Following the sale of shares at $11.70 each, the insider now holds 1,756,097 shares.
Before that, KONOWIECKI JOSEPH S had sold 16,413 shares from its account. In a trade valued at $193,181, the Director traded Alignment Healthcare Inc shares for $11.77 each. Upon closing the transaction, the insider’s holdings decreased to 16,413 shares, worth approximately $12.87 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 surge of approximately 0.04%. Over the course of the year, Alignment Healthcare Inc shares have jumped approximately 30.84%. Shares of the company reached a 52-week high of $12.36 on 09/13/24 and a 52-week low of $4.46 on 04/03/24. A 50-day SMA is recorded $9.70, while a 200-day SMA reached $7.56. Nevertheless, trading volume fell to 4.23 million shares from 7.52 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 9.74, which, if violated, would cause prices to drop to 8.21. In the upper region, resistance lies at 12.21. The next price resistance is at 13.15. RSI (Relative Strength Index) is 55.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 34.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
