Short Interest in Alphatec Holdings, Inc. (NASDAQ:ATEC) Rises By 7.8%

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 11,420,000 shares, a growth of 7.8% from the November 15th total of 10,590,000 shares. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is currently 5.4 days.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently modified their holdings of ATEC. Franklin Resources Inc. grew its holdings in Alphatec by 299.3% during the third quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after acquiring an additional 48,308 shares during the period. Barclays PLC increased its holdings in shares of Alphatec by 362.3% during the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock valued at $948,000 after purchasing an additional 133,653 shares in the last quarter. Invst LLC lifted its stake in shares of Alphatec by 3.7% in the 3rd quarter. Invst LLC now owns 158,549 shares of the medical technology company’s stock valued at $882,000 after purchasing an additional 5,630 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Alphatec during the third quarter worth $147,000. Finally, XTX Topco Ltd acquired a new stake in Alphatec during the third quarter valued at $69,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

ATEC has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Barclays boosted their price target on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. Finally, Lake Street Capital cut their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Alphatec has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded up $0.01 during midday trading on Tuesday, reaching $9.48. The company’s stock had a trading volume of 53,448 shares, compared to its average volume of 1,916,306. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock has a fifty day moving average of $8.06 and a 200 day moving average of $8.12. Alphatec has a twelve month low of $4.88 and a twelve month high of $17.34. The firm has a market capitalization of $1.34 billion, a PE ratio of -7.40 and a beta of 1.38.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.