Alphatec Holdings Inc (NASDAQ:ATEC)’s share price shot up 15.8% during mid-day trading on Monday . The stock traded as high as $1.45 and last traded at $1.39. 873,879 shares traded hands during mid-day trading, an increase of 103% from the average session volume of 431,474 shares. The stock had previously closed at $1.20.
Several brokerages recently commented on ATEC. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Alphatec in a report on Monday, November 12th. Zacks Investment Research cut shares of Alphatec from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 15th. Finally, ValuEngine raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
The company has a debt-to-equity ratio of 1.42, a current ratio of 2.36 and a quick ratio of 1.48. The firm has a market cap of $56.18 million, a P/E ratio of -3.94 and a beta of 0.84.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of Alphatec in the third quarter worth $165,000. Beacon Pointe Wealth Advisors LLC purchased a new stake in shares of Alphatec during the fourth quarter valued at $36,000. Renaissance Technologies LLC lifted its holdings in shares of Alphatec by 29.4% during the second quarter. Renaissance Technologies LLC now owns 484,645 shares of the medical technology company’s stock valued at $1,444,000 after purchasing an additional 110,058 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Alphatec during the third quarter valued at $548,000. Finally, BlackRock Inc. lifted its holdings in shares of Alphatec by 32.9% during the second quarter. BlackRock Inc. now owns 196,555 shares of the medical technology company’s stock valued at $585,000 after purchasing an additional 48,688 shares during the last quarter. Institutional investors and hedge funds own 21.24% of the company’s stock.
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Alphatec Company Profile (NASDAQ:ATEC)
Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.
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