Allient Inc. (NASDAQ:ALNT) Sees Significant Growth in Short Interest

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 256,700 shares, a growth of 64.1% from the October 15th total of 156,400 shares. Based on an average daily trading volume, of 138,200 shares, the short-interest ratio is presently 1.9 days. Approximately 1.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALNT. Northland Securities cut their price target on shares of Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, August 9th. Roth Mkm cut 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. Finally, Craig Hallum lowered their price objective on shares of Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Institutional Trading of Allient

Hedge funds have recently made changes to their positions in the stock. Shell Asset Management Co. acquired a new stake in shares of Allient during the first quarter worth approximately $35,000. CWM LLC grew its position in shares of Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after buying an additional 894 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Allient during the first quarter worth approximately $49,000. Allspring Global Investments Holdings LLC bought a new position in Allient during the first quarter worth $57,000. Finally, EntryPoint Capital LLC bought a new position in Allient during the first quarter worth $70,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Down 0.5 %

Shares of NASDAQ:ALNT opened at $23.28 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. Allient has a 52-week low of $16.91 and a 52-week high of $36.33. The company has a 50 day moving average of $19.09 and a two-hundred day moving average of $23.47. The company has a market capitalization of $392.15 million, a price-to-earnings ratio of 26.58 and a beta of 1.51.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. Allient had a net margin of 2.64% and a return on equity of 10.80%. The company had revenue of $125.21 million during the quarter, compared to the consensus estimate of $124.28 million. During the same quarter last year, the company earned $0.61 earnings per share. As a group, analysts forecast that Allient will post 1.29 earnings per share for the current fiscal year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, November 21st. Allient’s payout ratio is currently 13.64%.

About Allient

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.