Alphatec Holdings, Inc. (NASDAQ:ATEC) was the recipient of a large increase in short interest in the month of October. As of October 13th, there was short interest totalling 962,092 shares, an increase of 36.9% from the September 29th total of 702,968 shares. Currently, 13.4% of the shares of the company are sold short. Based on an average daily volume of 366,407 shares, the short-interest ratio is presently 2.6 days.
ATEC has been the subject of several analyst reports. HC Wainwright initiated coverage on shares of Alphatec Holdings in a research note on Monday, August 14th. They issued a “buy” rating and a $4.00 target price for the company. ValuEngine cut shares of Alphatec Holdings from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Finally, Lake Street Capital initiated coverage on shares of Alphatec Holdings in a research note on Monday, October 16th. They issued a “buy” rating and a $7.00 target price for the company.
Alphatec Holdings (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, August 10th. The medical technology company reported ($0.32) earnings per share for the quarter. The company had revenue of $24.38 million during the quarter.
Several hedge funds and other institutional investors have recently modified their holdings of ATEC. Broadfin Capital LLC lifted its holdings in Alphatec Holdings by 163.1% in the second quarter. Broadfin Capital LLC now owns 594,533 shares of the medical technology company’s stock valued at $1,100,000 after acquiring an additional 368,527 shares during the period. Sabby Management LLC acquired a new stake in Alphatec Holdings in the second quarter valued at $629,000. Finally, Fondren Management LP lifted its holdings in Alphatec Holdings by 20.8% in the second quarter. Fondren Management LP now owns 220,534 shares of the medical technology company’s stock valued at $408,000 after acquiring an additional 37,933 shares during the period. 20.56% of the stock is owned by hedge funds and other institutional investors.
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Alphatec Holdings Company Profile
Alphatec Holdings, Inc is a medical technology company. The Company through its subsidiary, Alphatec Spine, Inc and its subsidiaries, designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Its product portfolio and pipeline addresses the cervical, thoracolumbar and intervertebral regions of the spine and covers a range of spinal disorders and surgical procedures.
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