Alight (NYSE:ALIT) Stock Price Up 2,237.1% – What’s Next?

Alight, Inc. (NYSE:ALIT) traded up 2,237.1% during trading on Wednesday . The company traded as high as $13.25 and last traded at $13.0880. Approximately 156,647 shares changed hands during trading, a decline of 90% from the average daily volume of 1,618,373 shares. The stock had previously closed at $0.56.

Analyst Upgrades and Downgrades

ALIT has been the topic of several research reports. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, DA Davidson reaffirmed a “buy” rating and set a $40.00 target price on shares of Alight in a report on Monday, June 22nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.57.

Alight Price Performance

The stock has a market cap of $7.20 billion, a PE ratio of -2.29, a PEG ratio of 0.17 and a beta of 1.60. The business’s 50-day simple moving average is $14.51 and its 200-day simple moving average is $21.31. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Alight by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock worth $85,378,000 after buying an additional 1,205,027 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alight by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock valued at $84,558,000 after buying an additional 348,285 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Alight by 87.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after buying an additional 11,534,921 shares during the period. Rubric Capital Management LP raised its holdings in shares of Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after acquiring an additional 1,906,140 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Alight by 6.6% during the third quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock valued at $62,488,000 after acquiring an additional 1,187,092 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.