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

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 188,600 shares, a decrease of 12.5% from the August 15th total of 215,600 shares. Based on an average daily volume of 117,700 shares, the short-interest ratio is presently 1.6 days. Approximately 1.3% of the company’s shares are short sold.

Allient Price Performance

Allient stock opened at $20.92 on Wednesday. The firm has a fifty day moving average of $23.30 and a 200-day moving average of $27.15. Allient has a 52-week low of $18.17 and a 52-week high of $36.33. The company has a quick ratio of 2.00, a current ratio of 3.90 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $350.95 million, a P/E ratio of 13.85 and a beta of 1.51.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The company had revenue of $136.03 million during the quarter, compared to analyst estimates of $137.55 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, analysts predict that Allient will post 1.29 EPS for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.57%. Allient’s payout ratio is currently 7.95%.

Hedge Funds Weigh In On Allient

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in shares of Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after purchasing an additional 894 shares during the period. Isthmus Partners LLC increased its stake in Allient by 0.7% during the 2nd quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock worth $25,000 after buying an additional 653 shares during the period. Shell Asset Management Co. acquired a new position in Allient in the 1st quarter worth $35,000. New York State Teachers Retirement System acquired a new position in Allient in the 1st quarter worth $41,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Allient in the 1st quarter valued at about $49,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Roth Mkm decreased their price target on shares of Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Northland Securities lowered their price target on Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Finally, Craig Hallum dropped their price target on Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Allient Company Profile

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.