Short Interest in Alphatec Holdings, Inc. (NASDAQ:ATEC) Increases By 7.8%

by · The Cerbat Gem

Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 11,420,000 shares, a growth of 7.8% from the November 15th total of 10,590,000 shares. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is currently 5.4 days.

Hedge Funds Weigh In On Alphatec

Several institutional investors have recently added to or reduced their stakes in the business. Magnetar Financial LLC bought a new stake in Alphatec in the second quarter valued at $10,957,000. First Eagle Investment Management LLC bought a new stake in Alphatec during the 2nd quarter worth approximately $1,071,000. Lighthouse Investment Partners LLC raised its stake in shares of Alphatec by 257.5% in the second quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock worth $2,180,000 after purchasing an additional 150,244 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Alphatec by 11.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after buying an additional 297,850 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in Alphatec in the 3rd quarter valued at $2,057,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Trading Down 0.8 %

NASDAQ:ATEC opened at $9.62 on Monday. The firm has a market cap of $1.36 billion, a P/E ratio of -7.52 and a beta of 1.38. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm’s fifty day moving average is $7.98 and its 200-day moving average is $8.12. Alphatec has a 52 week low of $4.88 and a 52 week high of $17.34.

Wall Street Analysts Forecast Growth

ATEC has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Lake Street Capital dropped their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Barclays upped their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.11.

View Our Latest Stock Report on ATEC

Alphatec Company Profile

(Get Free Report)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.

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