Alphatec Holdings, Inc. (NASDAQ:ATEC) is among the top gainers of the stock market today, skyrocketing 11.48% or (0.35 points) to $3.4 from its previous close of $3.05. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 634279 contracts so far this session. ATEC shares had a relatively better volume day versus average trading capacity of 617.12 thousand shares, but with a 41.01 million float and a 32.03% 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 $10.63 per share. This means the stock has a potential increase of 212.65% from where the ATEC share price has been trading recently.
During the recent trading session for Alphatec Holdings, Inc. (NASDAQ:ATEC), the company witnessed their stock rise $0.91 over a week and tumble down $-2.91 from the price 20 days ago. When compared to their established 52-week high of $7.93, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/22/20. The recent low of $2.19 stood for a -57.12% since 03/23/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.2 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 39.68. 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 24.65% at this stage. This figure means that ATEC share price today is being overbought.
Technical chart claims that Alphatec Holdings, Inc. (ATEC) would settle between $3.29/share to $3.54/share level. However, if the stock price goes below the $2.76 mark, then the market for Alphatec Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.47 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.28. 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 Canaccord Genuity, assumed coverage of ATEC assigning Buy rating, according to their opinion released on August 28. Piper Jaffray, analysts launched coverage of Alphatec Holdings, Inc. (NASDAQ:ATEC) stock with a Overweight recommendation, according to their flash note issued to investors on August 05. Analysts at Lake Street, made their first call for the equity with a Buy recommendation, according to a research note that dated back to October 16.
ATEC equity has an average rating of 1.75, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 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. 4 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/E ratio is 0 while for the average stock in the same group, the multiple is 26.3. Alphatec Holdings, Inc. current P/B ratio of 4.4 means it is trading at a premium against its industry’s 3.5.
Alphatec Holdings, Inc. (ATEC)’s current-quarter revenues are projected to climb by nearly 21.9% to hit $29.93 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 21.3% from $113430 to a noteworthy $137600. At the other end of the current quarter income statement, Alphatec Holdings, Inc. is expected to see its adjusted earnings surge by roughly 31% to hit $-0.2 per share. For the fiscal year, ATEC’s earnings are projected to climb by roughly 38.5% to hit $-0.67 per share.