Alphatec Holdings, Inc. (NASDAQ:ATEC) Sees Large Decline in Short Interest

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 10,590,000 shares, a drop of 10.3% from the October 31st total of 11,810,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. XTX Topco Ltd bought a new stake in Alphatec during the third quarter valued at $69,000. Net Worth Advisory Group acquired a new stake in Alphatec during the third quarter worth about $76,000. Comerica Bank lifted its holdings in Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after acquiring an additional 2,534 shares during the last quarter. Van ECK Associates Corp boosted its stake in Alphatec by 57.0% in the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after acquiring an additional 6,998 shares during the period. Finally, Tempus Wealth Planning LLC acquired a new stake in shares of Alphatec during the 3rd quarter worth approximately $107,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Lake Street Capital lowered their price objective on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Alphatec in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Stock Down 2.8 %

Alphatec stock traded down $0.29 during midday trading on Monday, hitting $10.19. The stock had a trading volume of 264,323 shares, compared to its average volume of 1,941,296. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The business has a fifty day moving average price of $7.11 and a 200 day moving average price of $8.18. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34. The stock has a market cap of $1.45 billion, a P/E ratio of -8.09 and a beta of 1.31.

About Alphatec

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.