Align Technology, Inc. (ALGN) Shares Down Despite Recent Market Volatility

The stock of Align Technology, Inc. (NASDAQ: ALGN) has decreased by -1.77 when compared to last closing price of 233.79.Despite this, the company has seen a loss of -3.09% in its stock price over the last five trading days. businesswire.com reported 2024-10-02 that TEMPE, Ariz.–(BUSINESS WIRE)–Align Technology, Inc. (Nasdaq: ALGN) a leading global medical device company that designs, manufactures, and sells the Invisalign® System of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that it will report third quarter 2024 financial results on Wednesday, October 23, 2024, after the close of market. Financial results will be released at 4:00 p.m. ET (1:00 p.m. PT) and.

Is It Worth Investing in Align Technology, Inc. (NASDAQ: ALGN) Right Now?

Align Technology, Inc. (NASDAQ: ALGN) has a price-to-earnings ratio that is above its average at 38.96x. The stock has a 36-month beta value of 1.63. Opinions on the stock are mixed, with 4 analysts rating it as a “buy,” 7 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for ALGN is 69.53M, and at present, short sellers hold a 4.44% of that float. On October 11, 2024, the average trading volume of ALGN was 758.71K shares.

ALGN’s Market Performance

ALGN stock saw an increase of -3.09% in the past week, with a monthly gain of 2.00% and a quarterly increase of -5.36%. The volatility ratio for the week is 2.49%, and the volatility levels for the last 30 days are 3.27% for Align Technology, Inc. (ALGN). The simple moving average for the past 20 days is -6.39% for ALGN’s stock, with a -14.20% simple moving average for the past 200 days.

Analysts’ Opinion of ALGN

Leerink Partners, on the other hand, stated in their research note that they expect to see ALGN reach a price target of $310. The rating they have provided for ALGN stocks is “Market Perform” according to the report published on February 26th, 2024.

Goldman gave a rating of “Sell” to ALGN, setting the target price at $197 in the report published on December 11th of the previous year.

ALGN Trading at -1.58% from the 50-Day Moving Average

After a stumble in the market that brought ALGN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.53% of loss for the given period.

Volatility was left at 3.27%, however, over the last 30 days, the volatility rate increased by 2.49%, as shares surge +0.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.96% lower at present.

During the last 5 trading sessions, ALGN fell by -3.09%, which changed the moving average for the period of 200-days by -15.53% in comparison to the 20-day moving average, which settled at $245.34. In addition, Align Technology, Inc. saw -16.19% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ALGN starting from LARKIN C RAYMOND JR, who purchase 6,500 shares at the price of $235.33 back on Aug 15 ’24. After this action, LARKIN C RAYMOND JR now owns 28,247 shares of Align Technology, Inc., valued at $1,529,645 using the latest closing price.

LACOB JOSEPH, the Director of Align Technology, Inc., sale 15,000 shares at $303.22 during a trade that took place back on Feb 29 ’24, which means that LACOB JOSEPH is holding 131,994 shares at $4,548,308 based on the most recent closing price.

Stock Fundamentals for ALGN

Current profitability levels for the company are sitting at:

  • 0.17 for the present operating margin
  • 0.7 for the gross margin

The net margin for Align Technology, Inc. stands at 0.11. The total capital return value is set at 0.17. Equity return is now at value 12.09, with 7.27 for asset returns.

Based on Align Technology, Inc. (ALGN), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at 4.05. The debt to equity ratio resting at 0.03. The interest coverage ratio of the stock is -374.08.

Currently, EBITDA for the company is 812.37 million with net debt to EBITDA at -0.86. When we switch over and look at the enterprise to sales, we see a ratio of 4.19. The receivables turnover for the company is 3.26for trailing twelve months and the total asset turnover is 0.64. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.18.

Conclusion

To sum up, Align Technology, Inc. (ALGN) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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