Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Update

Alphatec Holdings, Inc. (NASDAQ:ATEC) experienced a notable decline in short interest in November. As of November 15, short interest was recorded at 10,590,000 shares. This figure marks a decrease of 10.3% compared to the 11,810,000 shares reported on October 31. With an average daily trading volume of 2,260,000 shares, the days-to-cover ratio for the stock currently stands at 4.7 days.

Alphatec Stock Performance

On Friday, NASDAQ ATEC opened at $10.48. The company’s financial metrics indicate a debt-to-equity ratio of 30.21, a quick ratio of 1.15, and a current ratio of 2.32. The fifty-day moving average for the stock is $7.11, while the two-hundred-day moving average is $8.20. Alphatec’s market capitalization is approximately $1.49 billion, with a P/E ratio of -8.19, and it has a beta of 1.31. Over the past year, the stock has fluctuated between a low of $4.88 and a high of $17.34.

Institutional Inflows and Outflows

Recent changes in holdings by institutional investors and hedge funds show increased interest in Alphatec. Comerica Bank raised its stake by 64.8% in the first quarter, now holding 6,443 shares valued at $89,000 after acquiring an additional 2,534 shares. Van ECK Associates Corp also boosted its position by 11.8% in the second quarter, taking ownership of 12,275 shares valued at $128,000 after adding 1,300 shares. In the third quarter, XTX Topco Ltd established a new stake worth about $69,000. Additionally, Cetera Advisors LLC increased its holdings by 15.6%, holding 12,720 shares valued at $175,000 after acquiring 1,720 shares. Moreover, Net Worth Advisory Group entered a new position in the third quarter worth approximately $76,000. Collectively, institutional investors and hedge funds own 66.35% of Alphatec’s stock.

Wall Street Analyst Perspectives

Several analysts have recently weighed in on Alphatec’s stock. Lake Street Capital revised their target price from $32.00 to $18.00, maintaining a "buy" rating. HC Wainwright reiterated its "buy" rating, setting a price objective of $20.00. Needham & Company LLC reissued its "buy" rating with a $13.00 target price while Canaccord Genuity Group affirmed their "buy" rating and $20.00 target price. Furthermore, Barclays raised their target price from $19.00 to $20.00 and categorized the company as "overweight" in a report released on November 19. Of the analysts, one has assigned a hold rating, while eight have given a buy rating. Alphatec has an average rating of "Moderate Buy" based on data from MarketBeat, with a consensus price target of $17.11.

About Alphatec

Alphatec Holdings, Inc. is a medical technology company dedicated to designing, developing, and advancing technologies aimed at the surgical treatment of spinal disorders, both in the United States and abroad. The company manufactures and sells implants and instruments through third-party suppliers. Its product offerings include the Alpha InformatiX product platform, the EOS imaging system, the VEA alignment mobile application, and the SafeOp Neural InformatiX System, among others.

Alphatec, Stocks, Investment