The stock of Alight Inc. (NYSE:ALIT) decreased by -$0.1 on Tuesday to finish at $8.36, down -1.18 percent. The last five days have seen an average of 2,259,400 shares of common stock traded. The average number of shares traded over the last 20 days was 2,631,920, while the average volume over the last 50 days totaled 2,304,676.
ALIT stock dropped -14.17% since last month. On 08/08/23, the company’s shares reached a one-month low of $8.18. The stock touched a high of $10.19 on 02/22/23, after rallying from a low of $7.01 in 52 weeks. The price of ALIT stock has declined by 0.00%. Still, the stock price is down -17.92% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
ALIT stock investors should be aware that Alight Inc. (ALIT) stock had its last reported insider trading activity 163 days ago on Mar 06. On Mar 06, 10% Owner Blackstone Holdings I/II GP L. sold 28,562,652 shares at $8.71 each. This transaction resulted in the insider making $248,780,699. On Mar 06, Blackstone Management Associat sold 28,562,652 shares at a price of US$8.71. After the transaction, the insider now owns 57,028 shares. 10% Owner BX Tempo ML Holdco 1 L.P. had earlier sold 28,562,652 shares on Mar 06 for $8.71 a share. The transaction was completed for $248,780,699.
Valuation Metrics
Beta for the stock is 0.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.40, the price-to-book (PB) ratio of 0.91, and the price-to-cash flow ratio of 27.09.
Financial Health
For the recent quarter, Alight Inc.’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.62, and the total debt to equity ratio is 0.63. As far as profitability goes, gross margin for the trailing twelve months is 32.10% percent. Alight Inc.’s EBITDA margin for the recent year was 12.96%, whereas its operating margin stood at -0.70% for the same period. Based on annual data, it had gross profit of $996.0 million and revenue of $3.13 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ALIT’s return on assets (ROA) during the last 12 months has been -2.20%. There was a -0.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -5.30%.
Earnings Surprise
A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $785.0 million, while revenues rose by 10.57% to $812.0 million. EBITDA was $85.0 million for the quarter. At the end of Alight Inc.’s most recent quarter, its liabilities totaled 5.82 billion, while its total debt was $2.97 billion. Equity owned by shareholders amounts to $557.27 million.
Technical Picture
Here’s a quick look at Alight Inc.’s (ALIT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 26.33%, suggesting the stock is oversold, with a 17.99% historical volatility rate.
The stochastic %K and %D were 15.19% and 18.00% respectively, while the average true range (ATR) was 0.27. Based on the 14-day stochastic reading of 10.60%, the RSI (14) reading is 31.57%. On the 9-day MACD Oscillator, the stock is at -0.04, and the 14-day reading is at -0.40.
Analyst Ratings
In its analyst report released on June 13, 2023, Citigroup began covering Alight Inc. (NYSE: ALIT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Alight Inc. (ALIT) an Buy rating. ALIT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is ALIT’s price target for the next 12 months?
The current consensus forecast for the stock is between $12.00 and $15.00, with a median target price of $12.50. In analyzing these forecasts, the average price target given by analysts for Alight Inc. (ALIT) is $12.88.
