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

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a significant growth in short interest in 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 short-interest ratio is currently 5.4 days.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares during the last quarter. Van ECK Associates Corp boosted its stake in Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the period. XTX Topco Ltd bought a new stake in Alphatec during the third quarter worth about $69,000. Cetera Advisors LLC raised its stake in Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after acquiring an additional 1,720 shares during the period. Finally, Net Worth Advisory Group bought a new stake in Alphatec in the 3rd quarter valued at about $76,000. Institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATEC. Barclays lifted their price objective 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 target price on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Alphatec in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Trading Down 0.8 %

Shares of NASDAQ ATEC traded down $0.08 during trading on Friday, reaching $9.62. The stock had a trading volume of 771,119 shares, compared to its average volume of 1,926,179. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The business’s 50-day moving average price is $7.98 and its 200-day moving average price is $8.14. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The company has a market cap of $1.36 billion, a P/E ratio of -7.52 and a beta of 1.38.

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.