An interesting stock that came up in some of our conversations today is Alphatec Holdings, Inc. (NASDAQ:ATEC). At current price of $6.01, the shares have already lost -0.21 points (-3.46% lower) from its previous close of $6.22. Should you buy or avoid them? The stock sets an active trading volume day with a reported 683374 contracts so far this session. ATEC shares had a relatively better volume day versus average trading capacity of 469.27 thousand shares, but with a 50.36 million float and a 20.08% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ATEC stock indicates that the average analyst price target is $6.67 per share. This means the stock has a potential increase of 10.98% from where the ATEC share price has been trading recently which is between $5.73 and $6.25. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.
The shorts are climbing into Alphatec Holdings, Inc. (ATEC) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in ATEC shares. While short interest still represents only 5.29% of ATEC’s float, the number of shares shorted have risen by 328660. The number of shares shorted advanced to 2992328 shares, up from 2663668 shares during the preceding fortnight. With average daily trading volumes at 686353 shares, days to cover decreased to about 10.13939 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Alphatec Holdings Inc (ATEC) EVP, People/Culture & GC Craig E Hunsaker Sold $588,000 of Shares” and dated August 12, 2019.
During the recent trading session for Alphatec Holdings, Inc. (NASDAQ:ATEC), the company witnessed their stock rise $0.8 over a week and surge $1.71 from the price 20 days ago. When compared to their established 52-week high of $6.35, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/13/19. The recent low of $1.18 stood for a -3.92% since 08/02/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.41 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Alphatec Holdings, Inc., the two-week RSI stands at 69.24. This figure suggests that ATEC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ATEC readings is similarly very revealing as it has a stochastic reading of 90.35% at this stage. This figure means that ATEC share price today is being oversold.
Technical chart claims that Alphatec Holdings, Inc. (ATEC) would settle between $6.4/share to $6.59/share level. However, if the stock price goes below the $5.88 mark, then the market for Alphatec Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $5.55 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.56. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray, assumed coverage of ATEC assigning Overweight rating, according to their opinion released on August 05. Lake Street, analysts launched coverage of Alphatec Holdings, Inc. (NASDAQ:ATEC) stock with a Buy recommendation, according to their flash note issued to investors on October 16. Analysts at H.C. Wainwright, made their first call for the equity with a Buy recommendation, according to a research note that dated back to August 14.
ATEC equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Alphatec Holdings, Inc. (NASDAQ:ATEC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ATEC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.38 while for the average stock in the same group, the multiple is 21.69.
Alphatec Holdings, Inc. (ATEC)’s current-quarter revenues are projected to climb by nearly 16.74% to hit $26.85 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 17.41% from $91.69 million to a noteworthy $107660. At the other end of the current quarter income statement, Alphatec Holdings, Inc. is expected to see its adjusted earnings surge by roughly -4.55% to hit $-0.23 per share. For the fiscal year, ATEC’s earnings are projected to climb by roughly -56.9% to hit $-0.91 per share.