Alight (NYSE:ALIT) Trading 2,237.1% Higher – What’s Next?

Alight, Inc. (NYSE:ALIT)’s stock price shot up 2,237.1% on Wednesday . The stock traded as high as $13.25 and last traded at $13.0880. 156,647 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,618,373 shares. The stock had previously closed at $0.56.

Analyst Ratings Changes

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

Alight Stock Performance

The company has a market capitalization of $7.20 billion, a P/E ratio of -2.29, a price-to-earnings-growth ratio of 0.17 and a beta of 1.60. The company’s 50 day moving average is $14.51 and its 200-day moving average is $21.31. 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 Trading of Alight

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Alight by 3.6% in the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after buying an additional 5,525 shares during the last quarter. AQR Capital Management LLC purchased a new position in Alight during the first quarter valued at $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alight by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after buying an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Alight by 1,776.2% in the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after acquiring an additional 10,657 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alight by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after acquiring an additional 66,771 shares in the last quarter. 96.74% of the stock is owned by 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.