Large Outflow of Money Witnessed in Align Technology

Align Technology (NASDAQ:ALGN) managed to eke out gains of 0.01% in intraday trade. The share price increased by 0.01 points to $79.36. Till last observation, the net money flow was recorded at a negative $(-6.29) million. The total inflow of $9.7 million in upticks was completely overshadowed by an outflow of $15.99 million in downticks, giving the up/down ratio a value of 0.61. The shares have seen a change of 0.67% in the past week.A block trade occurred in the company shares in which the composite value of the upticks was $1.36 million and the composite value in downticks was $8.89 million. The resultant up/down ratio for the block exchange was 0.15. The block trade had a negative money flow of $(-7.52) million.

Shares of Align Technology Inc. rose by 0.43% in the last five trading days and 4.13% for the last 4 weeks. Align Technology Inc. is up 14.91% in the last 3-month period. Year-to-Date the stock performance stands at 20.23%.

Currently the company Insiders own 2% of Align Technology shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -38.45% . Institutional Investors own 90.29% of Align Technology shares. During last six month period, the net percent change held by insiders has seen a change of -37.9%. . On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Align Technology Inc, Morrow George J had sold 50,000 shares worth of $3,885,500 in a transaction dated May 23, 2016. In this transaction, 50,000 shares were sold at $77.71 per share.

Align Technology (NASDAQ:ALGN) witnessed a decline in the market cap on Friday as its shares dropped 0.23% or 0.18 points. After the session commenced at $79.2, the stock reached the higher end at $79.66 while it hit a low of $78.53. With the volume soaring to 756,785 shares, the last trade was called at $79.17. The company has a 52-week high of $79.79. The company has a market cap of $6,348 million and there are 80,184,259 shares in outstanding. The 52-week low of the share price is $52.01.

Align Technology, Inc. (Align) is a medical device company. The Company designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services for dentistry, orthodontics, and dental records storage. The Company operates through two segments: Clear Aligner, known as the Invisalign system, and Scanners and Services, known as the iTero intraoral scanner and OrthoCAD services. The Companys Clear Aligner segment provides malocclusion and orthodontic treatment. The Companys Scanners and Services Segment offers iTero intraoral scanner, which utilizes laser and optical scanning to capture the contours of the patients dentition, gingival structures and the bite. It distributes products directly to customers, including orthodontists and general practitioner dentists (GPs), as well as to restorative dentists, including prosthodontists, periodontists and oral surgeons.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *