Align Technology, Inc. (NASDAQ:ALGN) Short Interest Update

Align Technology, Inc. (NASDAQ:ALGN) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,840,000 shares, a growth of 19.5% from the May 31st total of 1,540,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 729,300 shares, the short-interest ratio is currently 2.5 days.

Align Technology Stock Performance

Shares of ALGN stock traded up $1.10 during trading hours on Tuesday, hitting $239.74. 460,840 shares of the company were exchanged, compared to its average volume of 769,144. The firm has a market cap of $18.05 billion, a P/E ratio of 39.50, a P/E/G ratio of 4.47 and a beta of 1.66. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The company has a 50 day simple moving average of $265.44 and a two-hundred day simple moving average of $283.94.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million during the quarter, compared to the consensus estimate of $971.97 million. As a group, sell-side analysts expect that Align Technology will post 7.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Robert W. Baird increased their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Evercore ISI dropped their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Finally, UBS Group increased their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $346.50.

Institutional Trading of Align Technology

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Align Technology in the 1st quarter valued at $26,000. LRI Investments LLC acquired a new stake in Align Technology in the 1st quarter valued at $29,000. Crewe Advisors LLC acquired a new stake in Align Technology in the 1st quarter valued at $41,000. Lindbrook Capital LLC lifted its stake in Align Technology by 47.2% during the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 60 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in Align Technology during the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.