Alight (NYSE:ALIT) Shares Gap Down – Time to Sell?

Alight, Inc. (NYSE:ALIT) shares gapped down before the market opened on Monday . The stock had previously closed at $21.74, but opened at $20.93. Alight shares last traded at $20.6230, with a volume of 35,987 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. DA Davidson lifted their target price on shares of Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.57.

Alight Stock Down 8.0%

The firm has a 50-day moving average of $15.60 and a 200 day moving average of $19.06. The stock has a market capitalization of $500.21 million, a price-to-earnings ratio of -0.16, a price-to-earnings-growth ratio of 0.43 and a beta of 1.66. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Militia Capital Management LLC purchased a new stake in Alight during the 1st quarter worth $661,000. Essential Partners LLC boosted its position in Alight by 691.5% in the 1st quarter. Essential Partners LLC now owns 57,333 shares of the company’s stock valued at $33,000 after buying an additional 50,089 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in Alight in the 1st quarter valued at about $31,000. Royal Bank of Canada grew its stake in shares of Alight by 11.4% during the first quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock valued at $97,000 after acquiring an additional 17,076 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Alight by 5.5% during the first quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock valued at $1,239,000 after acquiring an additional 110,456 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.