Allient Inc. (NASDAQ:ALNT) Sees Large Decrease in Short Interest

Allient Inc. (NASDAQ:ALNTGet Free Report) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 77,200 shares, a drop of 12.9% from the May 15th total of 88,600 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 78,900 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

ALNT has been the topic of a number of recent research reports. Roth Mkm reduced their target price on shares of Allient from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Northland Securities reiterated a “market perform” rating and issued a $40.00 price target (down previously from $45.00) on shares of Allient in a research note on Thursday, March 7th.

Check Out Our Latest Analysis on Allient

Allient Stock Performance

Shares of ALNT opened at $24.84 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85. Allient has a 12-month low of $24.15 and a 12-month high of $40.59. The business’s fifty day moving average price is $28.59 and its 200 day moving average price is $29.48. The stock has a market capitalization of $416.82 million, a PE ratio of 16.45 and a beta of 1.60.

Allient (NASDAQ:ALNTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07. The business had revenue of $146.71 million during the quarter, compared to analyst estimates of $145.84 million. Allient had a net margin of 4.26% and a return on equity of 15.26%. Equities research analysts forecast that Allient will post 1.87 EPS for the current year.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, May 22nd. Allient’s payout ratio is 7.95%.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC bought a new position in shares of Allient in the fourth quarter valued at approximately $1,003,000. Confluence Investment Management LLC bought a new position in Allient in the 1st quarter worth $3,346,000. Allspring Global Investments Holdings LLC acquired a new position in Allient during the 1st quarter worth $57,000. Wasatch Advisors LP bought a new stake in Allient during the first quarter valued at about $20,914,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Allient in the first quarter worth about $288,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Company Profile

(Get Free Report)

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.

Further Reading

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