Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Up 7.8% in November

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

Institutional Investors Weigh In On Alphatec

Several large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after purchasing an additional 1,260,137 shares in the last quarter. Magnetar Financial LLC purchased a new position in Alphatec in the second quarter worth approximately $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Alphatec by 23.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock worth $27,486,000 after acquiring an additional 505,202 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Alphatec by 381.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after purchasing an additional 492,324 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in shares of Alphatec by 130.2% in the 2nd quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock valued at $6,941,000 after purchasing an additional 375,621 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATEC. Barclays lifted 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. Lake Street Capital dropped their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Alphatec in a research 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 analyst has rated the stock with a hold rating and eight have assigned 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 a consensus price target of $17.11.

Alphatec Trading Up 0.1 %

ATEC stock traded up $0.01 during mid-day trading on Tuesday, hitting $9.48. 53,448 shares of the company were exchanged, compared to its average volume of 1,916,306. The business has a fifty day simple moving average of $8.06 and a 200-day simple moving average of $8.12. The firm has a market capitalization of $1.34 billion, a P/E ratio of -7.40 and a beta of 1.38. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

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.