Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alignment Healthcare Inc shares valued at $41,055,000 were purchased by Warburg Pincus LLC on Oct 30 ’24. At $11.73 per share, Warburg Pincus LLC acquired 3,500,000 shares.
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Also, Maroney Dawn Christine sold 30,000 shares, netting a total of over 323,082 in proceeds. Following the sale of shares at $10.77 each, the insider now holds 1,726,097 shares.
Before that, Freeman Robert Thomas had sold 30,500 shares from its account. In a trade valued at $350,872, the Chief Financial Officer traded Alignment Healthcare Inc shares for $11.50 each. Upon closing the transaction, the insider’s holdings decreased to 30,500 shares, worth approximately $1.92 million.
As published in their initiating research note from KeyBanc Capital Markets on October 11, 2024, Alignment Healthcare Inc [ALHC] has been a Sector weight. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late May. As of May 30, 2024, Robert W. Baird has initiated its “an Outperform” rating for ALHC. Earlier on May 08, 2024, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for ALHC stock which previously was a “a Neutral”.
Analyzing ALHC Stock Performance
During the last five days, there has been a surge of approximately 11.29%. Over the course of the year, Alignment Healthcare Inc shares have jumped approximately 36.24%. 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 $10.67, while a 200-day SMA reached $7.84. Nevertheless, trading volume fell to 2.77 million shares from 1.43 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 11.23, which, if violated, would cause prices to drop to 10.72. In the upper region, resistance lies at 12.06. The next price resistance is at 12.39. RSI (Relative Strength Index) is 57.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 17.35%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
