From MarketBeat:

Align Technology, Inc. (NASDAQ:ALGN) experienced a significant decrease in short interest in December. There were 2,770,000 shares shorted as of December 15, a 7.7% decrease from November. The company’s stock opened at $274.00, with a 50-day moving average of $224.83 and a 200-day moving average of $294.97. Align Technology last reported quarterly earnings of $1.62 per share, missing the consensus estimate of $1.86.

Analysts have downgraded Align Technology from “buy” to “neutral” and cut price targets on the stock. The company’s CEO made insider purchases of 5,194 shares at an average cost of $192.50 each. Hedge funds also made changes to their positions in the stock. Vanguard Group Inc. and BlackRock Inc. boosted their positions, while Bank Julius Baer & Co. Ltd Zurich, State Street Corp, and Geode Capital Management LLC made significant purchases of Align Technology shares.

Align Technology, Inc. designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, China, and internationally. The company operates in two segments: Clear Aligner; and Imaging Systems and CAD/CAM Services. MarketBeat has identified Align Technology as a “Moderate Buy” stock.



Read more: Short Interest in Align Technology, Inc. (NASDAQ:ALGN) Decreases By 7.7%