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

Allient Inc. (NASDAQ:ALNT) saw a large drop in short interest during 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. Based on an average trading volume of 149,400 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.2% of the shares of the company are short sold.

Analysts Set New Price Targets

ALNT has been the topic of several recent research reports. Roth Mkm dropped their price objective 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. Craig Hallum cut their price objective on shares of Allient from $41.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Northland Securities lowered their target price 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.

Allient Trading Up 1.2 %

Shares of ALNT opened at $25.65 on Friday. Allient has a twelve month low of $16.91 and a twelve month high of $36.33. The stock has a market cap of $432.07 million, a PE ratio of 29.15 and a beta of 1.51. 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’s 50-day moving average price is $20.32 and its 200-day moving average price is $23.07.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $125.21 million for the quarter, compared to analysts’ expectations of $124.28 million. During the same period in the prior year, the company posted $0.61 EPS. On average, equities analysts forecast that Allient will post 1.43 EPS for the current fiscal year.

Allient Dividend Announcement

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

Hedge Funds Weigh In On Allient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pullen Investment Management LLC boosted its position in shares of Allient by 3.2% during the 2nd quarter. Pullen Investment Management LLC now owns 13,555 shares of the company’s stock valued at $343,000 after acquiring an additional 415 shares during the last quarter. Isthmus Partners LLC lifted its position in Allient by 0.7% during the second quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock valued at $25,000 after purchasing an additional 653 shares during the last quarter. Algert Global LLC grew its stake in Allient by 5.2% in the 2nd quarter. Algert Global LLC now owns 13,993 shares of the company’s stock worth $354,000 after buying an additional 689 shares in the last quarter. CWM LLC increased its holdings in shares of Allient by 798.2% in the 2nd quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after buying an additional 894 shares during the last quarter. Finally, Meixler Investment Management Ltd. raised its position in shares of Allient by 11.6% during the 3rd quarter. Meixler Investment Management Ltd. now owns 11,287 shares of the company’s stock valued at $214,000 after buying an additional 1,172 shares in the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.