Allient (NASDAQ:ALNT) Stock Price Down 9.1% - Here's What Happened

Key Points

• Allient shares tumbled 9.1% intraday to about $59.34 (low $58.81) on Monday, with 87,941 shares traded—roughly 46% below the average session volume—after a prior close of $65.25.
• Analyst sentiment is mixed: three firms rate the stock Buy and four Hold, leaving an average consensus of Hold and an average price target of $61.00.
• Fundamentals show a recent beat—EPS $0.55 vs. $0.46 and revenue $143.35M vs. $133.33M—while the company carries a market cap of about $1.02B and a trailing PE of 45.53.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s stock price traded down 9.1% during mid-day trading on Monday . The stock traded as low as $58.81 and last traded at $59.34. 87,941 shares were traded during trading, a decline of 46% from the average session volume of 161,776 shares. The stock had previously closed at $65.25.

Analyst Ratings Changes

A number of equities research analysts recently commented on ALNT shares. Lake Street Capital began coverage on shares of Allient in a research note on Wednesday, February 18th. They issued a "buy" rating and a $79.00 price objective on the stock. Craig Hallum reaffirmed a "buy" rating and issued a $75.00 price target on shares of Allient in a report on Monday. Roth Mkm increased their price target on shares of Allient from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, November 14th. Zacks Research cut shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Allient in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.00.

Allient Price Performance

The company's 50 day simple moving average is $62.44 and its 200 day simple moving average is $54.51. The company has a current ratio of 3.66, a quick ratio of 2.08 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.02 billion, a PE ratio of 45.53 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.09. The company had revenue of $143.35 million for the quarter, compared to analyst estimates of $133.33 million. Allient had a return on equity of 12.53% and a net margin of 3.97%. On average, equities analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current year.

Institutional Trading of Allient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALNT. Arax Advisory Partners increased its stake in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company's stock valued at $27,000 after acquiring an additional 263 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Allient in the third quarter worth approximately $34,000. Larson Financial Group LLC boosted its position in shares of Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $37,000 after acquiring an additional 413 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Allient in the third quarter valued at approximately $41,000. Finally, New York State Teachers Retirement System purchased a new stake in Allient in the third quarter valued at approximately $58,000. 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.

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