Allient Inc. (NASDAQ:ALNT) Sees Large Increase in Short Interest

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 168,500 shares, a growth of 118.3% from the May 31st total of 77,200 shares. Based on an average trading volume of 84,900 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.2% of the company’s stock are short sold.

Allient Price Performance

Shares of ALNT stock opened at $25.27 on Friday. The company has a market cap of $424.03 million, a P/E ratio of 16.74 and a beta of 1.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85. The stock’s 50-day moving average is $27.60 and its 200 day moving average is $29.33. Allient has a 1-year low of $24.15 and a 1-year high of $40.59.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. Allient had a net margin of 4.26% and a return on equity of 15.26%. The firm had revenue of $146.71 million for the quarter, compared to the consensus estimate of $145.84 million. Research analysts predict that Allient will post 1.85 earnings per share for the current fiscal year.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.47%. Allient’s dividend payout ratio (DPR) is 7.95%.

Wall Street Analyst Weigh In

ALNT has been the topic of several recent research reports. Roth Mkm dropped their target price on shares of Allient from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Northland Securities reissued a “market perform” rating and issued a $40.00 price objective (down previously from $45.00) on shares of Allient in a research note on Thursday, March 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Shell Asset Management Co. acquired a new position in shares of Allient during the first quarter valued at about $35,000. New York State Teachers Retirement System acquired a new position in Allient during the 1st quarter valued at approximately $41,000. Ameritas Investment Partners Inc. purchased a new position in shares of Allient in the first quarter worth $49,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Allient during the first quarter worth $57,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Allient during the first quarter valued at $70,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.