AstroNova (NASDAQ:ALOT) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• AstroNova's share price has recently crossed above its 200-day moving average, with the stock trading as high as $11.81 before last closing at $11.68.
• Analysts from Wall Street Zen initiated coverage on AstroNova with a "buy" rating, indicating positive market sentiment.
• The company reported a negative net margin of 10.28% and a positive return on equity of 2.21%, showing challenges alongside some profitability metrics.

AstroNova, Inc. (NASDAQ:ALOT - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.03 and traded as high as $11.81. AstroNova shares last traded at $11.68, with a volume of 3,727 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of AstroNova in a research report on Tuesday, May 20th. They set a "buy" rating on the stock.

AstroNova Stock Down 1.5%

The firm's 50 day moving average is $11.30 and its two-hundred day moving average is $10.03. The stock has a market cap of $88.72 million, a price-to-earnings ratio of -5.48 and a beta of 0.84. The company has a current ratio of 1.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26.

AstroNova (NASDAQ:ALOT - Get Free Report) last announced its earnings results on Thursday, June 5th. The business services provider reported $0.05 earnings per share for the quarter. AstroNova had a negative net margin of 10.28% and a positive return on equity of 2.21%. The firm had revenue of $37.71 million during the quarter.

Insider Activity at AstroNova

In other news, Director Mitchell I. Quain bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were acquired at an average cost of $9.05 per share, with a total value of $90,500.00. Following the transaction, the director owned 97,719 shares of the company's stock, valued at $884,356.95. This represents a 11.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.70% of the stock is currently owned by corporate insiders.

Institutional Trading of AstroNova

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mink Brook Asset Management LLC increased its position in AstroNova by 1.1% during the 2nd quarter. Mink Brook Asset Management LLC now owns 379,361 shares of the business services provider's stock worth $4,397,000 after purchasing an additional 3,955 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of AstroNova by 15.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 96,063 shares of the business services provider's stock valued at $883,000 after buying an additional 12,519 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AstroNova by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 74,138 shares of the business services provider's stock valued at $859,000 after acquiring an additional 1,036 shares in the last quarter. Northern Trust Corp raised its position in shares of AstroNova by 14.6% during the 4th quarter. Northern Trust Corp now owns 65,359 shares of the business services provider's stock valued at $785,000 after acquiring an additional 8,314 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of AstroNova by 7.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 39,274 shares of the business services provider's stock valued at $472,000 after acquiring an additional 2,574 shares in the last quarter. Institutional investors and hedge funds own 43.02% of the company's stock.

About AstroNova

AstroNova, Inc designs, develops, manufactures, and distributes specialty printers, and data acquisition and analysis systems in the United States, Europe, Asia, Canada, Central and South America, and internationally. The company operates in two segments, Product Identification (PI) and Test & Measurement (T&M).

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