AstroNova (NASDAQ:ALOT) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• AstroNova's stock has recently crossed above its 200-day moving average, reaching a trading high of $11.20.
• Wall Street Zen has initiated coverage on AstroNova, giving the stock a "buy" rating.
• Insider transactions reveal that Director Mitchell I. Quain purchased 10,000 shares at an average cost of $9.05, indicating confidence in the stock's future potential.

AstroNova, Inc. (NASDAQ:ALOT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.04 and traded as high as $11.20. AstroNova shares last traded at $11.20, with a volume of 774 shares.

Wall Street Analyst Weigh In

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

AstroNova Price Performance

The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $10.04. The company has a market cap of $85.12 million, a PE ratio of -5.26 and a beta of 0.81. 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 quarterly earnings data on Thursday, June 5th. The business services provider reported $0.05 earnings per share for the quarter. AstroNova had a positive return on equity of 2.21% and a negative net margin of 10.28%. The company had revenue of $37.71 million for the quarter.

Insiders Place Their Bets

In related news, Director Mitchell I. Quain purchased 10,000 shares of AstroNova stock in a transaction dated Tuesday, June 17th. The stock was bought at an average cost of $9.05 per share, for a total transaction of $90,500.00. Following the transaction, the director owned 97,719 shares in the company, valued at approximately $884,356.95. The trade was a 11.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 18.80% of the company's stock.

Institutional Investors Weigh In On AstroNova

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mink Brook Asset Management LLC lifted its position in shares of 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 valued at $4,397,000 after acquiring an additional 3,955 shares during the period. Jane Street Group LLC acquired a new stake in shares of AstroNova during the 2nd quarter valued at approximately $140,000. Geode Capital Management LLC lifted 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 during the period. Diamond Hill Capital Management Inc. lifted its position 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 acquiring an additional 12,519 shares during the period. Finally, Bridgeway Capital Management LLC lifted 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 during the period. 43.02% of the stock is currently owned by institutional investors and hedge funds.

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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