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

Posted by on May 29th, 2023

Align Technology, Inc. (NASDAQ:ALGN – Get Rating) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 1,830,000 shares, a decline of 20.8% from the April 30th total of 2,310,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 833,500 shares, the short-interest ratio is presently 2.2 days.

Align Technology Price Performance

ALGN opened at $285.39 on Monday. The stock has a market capitalization of $21.84 billion, a PE ratio of 70.47, a P/E/G ratio of 2.44 and a beta of 1.60. The firm’s fifty day moving average price is $317.14 and its 200 day moving average price is $275.56. Align Technology has a 12-month low of $172.05 and a 12-month high of $368.87.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Align Technology in a research report on Thursday, May 18th. They set a “buy” rating on the stock. VNET Group reaffirmed a “maintains” rating on shares of Align Technology in a research report on Thursday, April 27th. Evercore ISI lifted their price target on shares of Align Technology from $230.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Piper Sandler lifted their price target on shares of Align Technology from $360.00 to $370.00 in a research report on Thursday, April 27th. Finally, OTR Global raised shares of Align Technology from a “mixed” rating to a “positive” rating in a research report on Friday, March 31st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $347.78.

Institutional Trading of Align Technology

Institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new stake in Align Technology in the first quarter valued at $26,000. KB Financial Partners LLC acquired a new stake in Align Technology in the first quarter valued at $26,000. CVA Family Office LLC raised its holdings in Align Technology by 46.7% in the first quarter. CVA Family Office LLC now owns 110 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 35 shares in the last quarter. First Manhattan CO. LLC. raised its holdings in Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 95 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Align Technology during the first quarter valued at $41,000. 84.90% of the stock is owned by institutional investors and hedge funds.

About Align Technology

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.

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