Short Interest in Allient Inc. (NASDAQ:ALNT) Decreases By 33.6%

Allient Inc. (NASDAQ:ALNT) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 170,400 shares, a drop of 33.6% from the October 31st total of 256,700 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 149,400 shares, the short-interest ratio is presently 1.1 days.

Allient Stock Performance

Shares of Allient stock opened at $25.65 on Friday. Allient has a 52 week low of $16.91 and a 52 week high of $36.33. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $20.32 and a 200-day moving average price of $23.07. The company has a market cap of $432.07 million, a PE ratio of 29.15 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 for the quarter, beating the consensus estimate of $0.21 by $0.10. Allient had a return on equity of 10.80% and a net margin of 2.64%. The business had revenue of $125.21 million for the quarter, compared to analysts’ expectations of $124.28 million. During the same period last year, the business earned $0.61 EPS. Equities analysts anticipate that Allient will post 1.43 earnings per share for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.47%. Allient’s dividend payout ratio (DPR) is 13.64%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Allient

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in Allient by 798.2% in the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after purchasing an additional 894 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Allient in the third quarter worth about $33,000. Copeland Capital Management LLC purchased a new position in Allient in the third quarter valued at about $50,000. Pathway Financial Advisers LLC grew its position in shares of Allient by 1,798.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,924 shares of the company’s stock valued at $56,000 after acquiring an additional 2,770 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Allient by 143.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,856 shares of the company’s stock valued at $97,000 after acquiring an additional 2,271 shares during the period. Hedge funds and other institutional investors own 61.57% of the company’s stock.

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.