Alight (NYSE:ALIT) Shares Gap Up – What’s Next?

Alight, Inc. (NYSE:ALIT) gapped up before the market opened on Monday . The stock had previously closed at $16.98, but opened at $17.84. Alight shares last traded at $18.9380, with a volume of 68,100 shares changing hands.

Analysts Set New Price Targets

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

Alight Trading Up 12.0%

The company’s 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $18.11. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $508.44 million, a price-to-earnings ratio of -0.16, a P/E/G ratio of 0.36 and a beta of 1.66.

Institutional Investors Weigh In On Alight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Militia Capital Management LLC purchased a new stake in shares of Alight during the first quarter worth about $661,000. Essential Partners LLC increased its stake in Alight by 691.5% during the 1st quarter. Essential Partners LLC now owns 57,333 shares of the company’s stock valued at $33,000 after purchasing an additional 50,089 shares in the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Alight in the first quarter worth $31,000. Royal Bank of Canada lifted its stake in shares of Alight by 11.4% during the first quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after buying an additional 17,076 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Alight by 5.5% during the first quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock valued at $1,239,000 after buying an additional 110,456 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other 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.