ALIT Stock Summary and Trading Ideas (Alight Class A | NYSE:ALIT)

Alight Inc is a provider of integrated, cloud-based human capital solutions that empower clients and employees to manage health, wealth and HR needs. Geographically, the company generates a majority of its revenue from the United States.

Alight Class A trades on the NYSE stock market under the symbol ALIT.

As of March 27, 2023, ALIT stock price declined to $8.73 with 814,067 million shares trading.

ALIT has a beta of 1.35, meaning it tends to be more sensitive to market movements. ALIT has a correlation of 0.39 to the broad based SPY ETF.

ALIT has a market cap of $4.25 billion. This is considered a Mid Cap stock.

Last quarter Alight Class A reported $942 million in Revenue and $.21 earnings per share. This beat revenue expectation by $24 million and exceeded earnings estimates by $.01.

The top ETF exchange traded funds that ALIT belongs to (by Net Assets): VTI, IWM, VB, VBR, IWN.

ALIT has underperformed the market in the last year with a price return of -12.9% while the SPY ETF lost -10.6%. However, in the short term, ALIT had mixed performance relative to the market. It has outperformed in the last 3 months, returning +6.3% vs +3.9% return in SPY. But in the last 2 weeks, ALIT shares have been beat by the market, returning -1.5% compared to an SPY return of +3.1%.

ALIT support price is $8.60 and resistance is $9.06 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALIT stock will trade within this expected range on the day.