5 Stocks Entering June in the Wrong Direction

3. Alignment Healthcare Inc. (NASDAQ:ALHC)

Alignment Healthcare extended its losing streak to a 7th straight session on Monday, slashing 13.19 percent to finish at $13.30 apiece, as investor sentiment was further weighed by an investment firm’s price target downgrade last week.

In a market note, Barclays slashed its price target for Alignment Healthcare Inc. (NASDAQ:ALHC) to $16 from $19 previously, while reaffirming an equal weight rating.

The coverage was based on stock moves in the first quarter of the year, which it deemed unlikely to reverse quickly.

Apart from Barclays, Raymond James also lowered its price target for Alignment Healthcare Inc. (NASDAQ:ALHC) earlier last month despite maintaining a buy recommendation.

Last month alone, Alignment Healthcare Inc. (NASDAQ:ALHC) has seen its stock price decline by 32 percent to $15.32 from $22.54 previously. Year-to-date, the company was down by 32.6 percent.

In other news, the company is set to participate in the Goldman Sachs 47th Annual Global Healthcare Conference in Miami, Florida, next Tuesday, June 9.

Investors are expected to watch for updates about its business, as well as cues on its outlook.

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