Short Interest in Alight, Inc. (NYSE:ALIT) Drops By 48.2%

Alight, Inc. (NYSE:ALIT) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 18,995,183 shares, a decrease of 48.2% from the June 15th total of 36,657,802 shares. Approximately 72.6% of the company’s stock are short sold. Based on an average daily trading volume, of 39,808,326 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings downgraded Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. Finally, DA Davidson lifted their price objective on shares of Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.57.

Alight Stock Down 0.8%

ALIT traded down $0.17 on Thursday, hitting $21.58. 613,955 shares of the company were exchanged, compared to its average volume of 1,394,061. The stock’s fifty day moving average is $15.29 and its 200-day moving average is $19.58. Alight has a 12 month low of $9.58 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $576.75 million, a PE ratio of -0.18, a PEG ratio of 0.46 and a beta of 1.66.

Hedge Funds Weigh In On Alight

Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. TradeLink Capital LLC bought a new stake in Alight during the fourth quarter worth $25,000. Strs Ohio acquired a new position in shares of Alight during the 1st quarter worth about $25,000. Moss Adams Wealth Advisors LLC bought a new stake in shares of Alight in the 4th quarter valued at about $26,000. Renaissance Technologies LLC acquired a new stake in Alight in the 4th quarter valued at about $26,000. Finally, Evolve Private Wealth LLC acquired a new stake in Alight in the 1st quarter valued at about $27,000. 96.74% of the stock is owned by institutional investors.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.