Market Analysts see Alight Inc. [ALIT] falling to $16. Time to buy?

Alight Inc. [NYSE: ALIT] stock went on an upward path that rose over 0.61% on Thursday, amounting to a one-week price increase of more than 9.87%. The company report on July 30, 2021 that Alight to Announce Second Quarter 2021 Results.

Alight (NYSE: ALIT) announced it will release second quarter 2021 earnings results before the market open on Thursday, August 12, 2021. Management will discuss the results on a conference call at 8:30 am ET on Thursday, August 12, 2021. The webcast and a presentation of financial information will be publicly available at investor.alight.com. To listen by phone, please dial 1-877-407-0792 or 1-201-689-8263. A replay of the call will be available until midnight, Thursday, August 26, 2021, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13721843.

About Alight.

Over the last 12 months, ALIT stock dropped by -2.46%.

The market cap for the stock reached $4.24 billion, with 129.38 million shares outstanding. Compared to the average trading volume of 2.04M shares, ALIT stock reached a trading volume of 2157903 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Alight Inc. [ALIT]:

DA Davidson have made an estimate for Alight Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 27, 2021.

The Average True Range (ATR) for Alight Inc. is set at 0.37 The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 0.00.

ALIT Stock Performance Analysis:

Alight Inc. [ALIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.87. With this latest performance, ALIT shares gained by 8.31% in over the last four-week period, additionally sinking by -11.83% over the last 6 months – not to mention a drop of -2.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALIT stock in for the last two-week period is set at 59.92, with the RSI for the last a single of trading hit 69.78, and the three-weeks RSI is set at 60.17 for Alight Inc. [ALIT], while it was recorded at 9.71 for the last single week of trading.

Insight into Alight Inc. Fundamentals:

Alight Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Alight Inc. [ALIT] Insider Position Details

There are presently around $763 million, or 17.80% of ALIT stock, in the hands of institutional investors. The top three institutional holders of ALIT stocks are: SOROBAN CAPITAL PARTNERS LP with ownership of 6,106,057, which is approximately New of the company’s market cap and around 2.00% of the total institutional ownership; AZORA CAPITAL LP, holding 5,218,114 shares of the stock with an approximate value of $51.71 million in ALIT stocks shares; and DAVENPORT & CO LLC, currently with $49.35 million in ALIT stock with ownership of nearly 173.568% of the company’s market capitalization.

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78 institutional holders increased their position in Alight Inc. [NYSE:ALIT] by around 46,026,481 shares. Additionally, 82 investors decreased positions by around 45,246,978 shares, while 4 investors held positions by with 14,328,338 shares. The mentioned changes placed institutional holdings at 76,945,121 shares, according to the latest SEC report filing. ALIT stock had 55 new institutional investments in for a total of 37,117,120 shares, while 55 institutional investors sold positions of 25,340,388 shares during the same period.

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