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

Allient Inc. (NASDAQ:ALNT) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 200,700 shares, a growth of 19.1% from the June 15th total of 168,500 shares. Based on an average daily trading volume, of 96,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.4% of the company’s stock are short sold.

Allient Stock Up 1.7 %

Shares of NASDAQ ALNT opened at $26.79 on Monday. The business has a 50-day moving average of $26.61 and a two-hundred day moving average of $28.96. The company has a market capitalization of $449.54 million, a price-to-earnings ratio of 17.74 and a beta of 1.56. Allient has a 1 year low of $23.61 and a 1 year high of $40.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85.

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

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, May 22nd. Allient’s payout ratio is 7.95%.

Institutional Investors Weigh In On Allient

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Juniper Investment Company LLC purchased a new position in shares of Allient during the first quarter worth about $27,069,000. Wasatch Advisors LP purchased a new position in Allient during the 1st quarter worth approximately $20,914,000. Pinnacle Associates Ltd. acquired a new position in Allient during the first quarter worth approximately $9,610,000. Russell Investments Group Ltd. purchased a new stake in Allient in the first quarter valued at approximately $5,723,000. Finally, Silvercrest Asset Management Group LLC purchased a new stake in Allient in the first quarter valued at approximately $5,696,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price objective on shares of Allient from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd.

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.