Short Interest in Alphatec Holdings, Inc. (ATEC) Grows By 36.9%
Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 962,092 shares, an increase of 36.9% from the September 29th total of 702,968 shares. Based on an average daily trading volume, of 366,407 shares, the short-interest ratio is presently 2.6 days. Currently, 13.4% of the shares of the stock are short sold.
Shares of Alphatec Holdings (ATEC) opened at 3.66 on Tuesday. Alphatec Holdings has a 1-year low of $1.58 and a 1-year high of $6.62. The company’s market capitalization is $40.43 million. The firm’s 50-day moving average price is $3.09 and its 200 day moving average price is $2.22.
Alphatec Holdings (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, August 10th. The medical technology company reported ($0.32) EPS for the quarter. The business had revenue of $24.38 million for the quarter. Equities analysts predict that Alphatec Holdings will post ($1.20) EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. ValuEngine cut Alphatec Holdings from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Lake Street Capital assumed coverage on Alphatec Holdings in a research note on Monday, October 16th. They issued a “buy” rating and a $7.00 price target for the company. Finally, HC Wainwright assumed coverage on Alphatec Holdings in a research note on Monday, August 14th. They issued a “buy” rating and a $4.00 price target for the company.
A number of large investors have recently made changes to their positions in ATEC. Broadfin Capital LLC boosted its holdings in Alphatec Holdings by 163.1% in the 2nd quarter. Broadfin Capital LLC now owns 594,533 shares of the medical technology company’s stock valued at $1,100,000 after purchasing an additional 368,527 shares during the period. Sabby Management LLC bought a new position in Alphatec Holdings in the 2nd quarter valued at $629,000. Finally, Fondren Management LP boosted its holdings in Alphatec Holdings by 20.8% in the 2nd quarter. Fondren Management LP now owns 220,534 shares of the medical technology company’s stock valued at $408,000 after purchasing an additional 37,933 shares during the period. 20.56% of the stock is owned by hedge funds and other institutional investors.
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Alphatec Holdings Company Profile
Alphatec Holdings, Inc is a medical technology company. The Company through its subsidiary, Alphatec Spine, Inc and its subsidiaries, designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Its product portfolio and pipeline addresses the cervical, thoracolumbar and intervertebral regions of the spine and covers a range of spinal disorders and surgical procedures.
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