Alight Inc. [NYSE: ALIT] gained 0.45% or 0.03 points to close at $6.75 with a heavy trading volume of 4483244 shares. The company report on June 16, 2022 that Alight Solutions Launches Alight Digital Wallet to Provide More Flexible Pay Options for Workers.
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New solutions allow employees to be paid when they want and provides easier access to pay.
Alight Solutions (NYSE: ALIT), a leading cloud-based provider of integrated digital human capital and business solutions, today announced the launch of Alight Digital Wallet, powered by QRails. This app-based solution will enable organizations to help their people meet their unique financial needs and improve their financial wellbeing with an approach to pay that offers the flexibility workers need and want.
It opened the trading session at $6.55, the shares rose to $6.755 and dropped to $6.31, the range by which the price of stock traded the whole day. The daily chart for ALIT points out that the company has recorded -37.56% loss over the past six months. However, it is still -3.37% lower than its most recent low trading price.
If we look at the average trading volume of 4.35M shares, ALIT reached to a volume of 4483244 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Alight Inc. [ALIT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALIT shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALIT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stephens have made an estimate for Alight Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 08, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on August 16, 2021, representing the official price target for Alight Inc. stock. Previously, the target price had yet another drop from $20 to $16, while DA Davidson kept a Buy rating on ALIT stock.
The Average True Range (ATR) for Alight Inc. is set at 0.45, with the Price to Sales ratio for ALIT stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 0.73, with the Price to Cash per share for the same quarter was set at 0.61.
Trading performance analysis for ALIT stock
Alight Inc. [ALIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.91. With this latest performance, ALIT shares dropped by -17.28% in over the last four-week period, additionally sinking by -37.56% over the last 6 months – not to mention a drop of -30.91% 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 38.15, with the RSI for the last a single of trading hit 35.88, and the three-weeks RSI is set at 39.67 for Alight Inc. [ALIT]. The present Moving Average for the last 50 days of trading for this stock 7.98, while it was recorded at 7.01 for the last single week of trading, and 9.78 for the last 200 days.
Alight Inc. [ALIT]: A deeper dive into fundamental analysis
Alight Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Alight Inc. [ALIT]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alight Inc. go to -3.72%.
An analysis of insider ownership at Alight Inc. [ALIT]
There are presently around $2,536 million, or 96.00% of ALIT stock, in the hands of institutional investors. The top three institutional holders of ALIT stocks are: BLACKSTONE INC. with ownership of 54,833,898, which is approximately 0% of the company’s market cap and around 3.10% of the total institutional ownership; CANNAE HOLDINGS, INC., holding 52,477,062 shares of the stock with an approximate value of $352.65 million in ALIT stocks shares; and NEW MOUNTAIN VANTAGE ADVISERS, L.L.C., currently with $203.8 million in ALIT stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Alight Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 80 institutional holders increased their position in Alight Inc. [NYSE:ALIT] by around 45,746,723 shares. Additionally, 60 investors decreased positions by around 37,138,569 shares, while 19 investors held positions by with 294,537,581 shares. The mentioned changes placed institutional holdings at 377,422,873 shares, according to the latest SEC report filing. ALIT stock had 28 new institutional investments in for a total of 9,051,853 shares, while 27 institutional investors sold positions of 23,893,385 shares during the same period.