Allied Motion Technologies, Inc. (NASDAQ:AMOT) Short Interest Up 14.2% in July

Allied Motion Technologies, Inc. (NASDAQ:AMOT) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 127,200 shares, a growth of 14.2% from the June 30th total of 111,400 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 43,000 shares, the short-interest ratio is presently 3.0 days.

Several equities analysts have issued reports on AMOT shares. BidaskClub cut shares of Allied Motion Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Roth Capital lowered their target price on shares of Allied Motion Technologies from $50.00 to $44.00 in a research note on Monday, April 20th. Finally, Zacks Investment Research upgraded shares of Allied Motion Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $44.00.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Allied Motion Technologies by 7.4% in the 1st quarter. Royal Bank of Canada now owns 5,185 shares of the technology company’s stock worth $123,000 after purchasing an additional 358 shares during the period. Citigroup Inc. lifted its stake in shares of Allied Motion Technologies by 51.4% in the 1st quarter. Citigroup Inc. now owns 2,170 shares of the technology company’s stock worth $51,000 after purchasing an additional 737 shares during the period. Marshall Wace LLP bought a new position in shares of Allied Motion Technologies in the 1st quarter worth approximately $29,000. BNP Paribas Arbitrage SA raised its stake in Allied Motion Technologies by 116.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,195 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,180 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Allied Motion Technologies by 15.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,530 shares of the technology company’s stock worth $372,000 after acquiring an additional 1,430 shares during the period. Hedge funds and other institutional investors own 53.87% of the company’s stock.

Shares of NASDAQ:AMOT opened at $37.70 on Friday. The firm’s 50 day moving average price is $34.98 and its 200-day moving average price is $35.38. Allied Motion Technologies has a twelve month low of $19.00 and a twelve month high of $49.98. The company has a quick ratio of 1.51, a current ratio of 2.64 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $366.99 million, a PE ratio of 20.38, a price-to-earnings-growth ratio of 4.26 and a beta of 1.77.

Allied Motion Technologies (NASDAQ:AMOT) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.21. Allied Motion Technologies had a net margin of 4.49% and a return on equity of 15.13%. The firm had revenue of $92.38 million for the quarter, compared to analysts’ expectations of $88.10 million. Analysts expect that Allied Motion Technologies will post 0.88 earnings per share for the current fiscal year.

Allied Motion Technologies Company Profile

Allied Motion Technologies, Inc designs, manufactures, and sells precision and specialty motion control components and systems that are used in a range of industries worldwide. It provides automotive brushless (BL) DC motors, power steering solutions, and special purpose motors; fractional horsepower permanent magnet DC and BLDC motors serving a range of original equipment applications; and high performance BLDC motors, including servo motors, frameless motors, torque motors, slot less motors, high resolution encoders, and motor/encoder assemblies.

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