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

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant growth in short interest during 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. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 138,200 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC grew its holdings in Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after acquiring an additional 894 shares during the period. Isthmus Partners LLC grew its holdings in Allient by 0.7% during the second quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock worth $25,000 after acquiring an additional 653 shares during the period. Shell Asset Management Co. acquired a new position in Allient during the first quarter worth about $35,000. Ameritas Investment Partners Inc. acquired a new position in Allient during the first quarter worth about $49,000. Finally, Copeland Capital Management LLC acquired a new position in Allient during the third quarter worth about $50,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALNT shares. Craig Hallum reduced their price objective 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 research note on Friday, August 9th. Finally, Roth Mkm cut their target price on Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

Allient Price Performance

Shares of NASDAQ ALNT opened at $23.28 on Wednesday. Allient has a fifty-two week low of $16.91 and a fifty-two week high of $36.33. The firm’s 50-day simple moving average is $19.09 and its 200 day simple moving average is $23.47. The company has a quick ratio of 2.00, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The stock has a market cap of $392.15 million, a P/E 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 for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. Allient had a net margin of 2.64% and a return on equity of 10.80%. The business had revenue of $125.21 million for the quarter, compared to analysts’ expectations of $124.28 million. During the same period in the previous year, the business earned $0.61 earnings per share. Equities analysts expect that Allient will post 1.29 EPS for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a 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.