Reviewing The Case For Alight Inc. (ALIT) Going Higher

Currently, there are 510.89M common shares owned by the public and among those 438.31M shares have been available to trade.

The company’s stock has a 5-day price change of 0.69% and -0.41% over the past three months. ALIT shares are trading -14.89% year to date (YTD), with the 12-month market performance down to -1.49% lower. It has a 12-month low price of $6.15 and touched a high of $10.38 over the same period. ALIT has an average intraday trading volume of 5.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.12%, 0.98%, and -11.43% respectively.

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Institutional ownership of Alight Inc. (NYSE: ALIT) shares accounts for 91.90% of the company’s 510.89M shares outstanding.

It has a market capitalization of $3.89B and a beta (3y monthly) value of 0.87. The earnings-per-share (ttm) stands at -$0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.33% over the week and 2.67% over the month.

Earnings per share for the fiscal year are expected to decrease by -28.52%, and 12.23% over the next financial year.

Looking at the support for the ALIT, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on August 20, 2024, with the firm’s price target at $8. Citigroup coverage for the Alight Inc. (ALIT) stock in a research note released on January 05, 2024 offered a Buy rating with a price target of $12. Canaccord Genuity was of a view on December 06, 2023 that the stock is Buy, while UBS gave the stock Buy rating on November 07, 2023, issuing a price target of $10. Citigroup on their part issued Buy rating on June 13, 2023.

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