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

Key Points

• AstroNova's stock price surpassed its 200-day moving average of $10.09, trading as high as $11.32 before settling at $10.92.
• Wall Street Zen has initiated coverage on AstroNova, assigning the company a "buy" rating.
• Insider Director Mitchell I. Quain increased their stake by 11.40% by acquiring 10,000 shares at an average price of $9.05 per share.

AstroNova, Inc. (NASDAQ:ALOT - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.09 and traded as high as $11.32. AstroNova shares last traded at $10.92, with a volume of 9,474 shares.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of AstroNova in a research note on Tuesday, May 20th. They set a "buy" rating for the company.

AstroNova Price Performance

The company has a current ratio of 1.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26. The company has a market cap of $87.32 million, a PE ratio of -5.39 and a beta of 0.81. The firm has a 50 day moving average of $10.54 and a two-hundred day moving average of $10.09.

AstroNova (NASDAQ:ALOT - Get Free Report) last posted its quarterly earnings results 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 other news, Director Mitchell I. Quain acquired 10,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director directly 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 17.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AstroNova

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew 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 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 in the last quarter. Mink Brook Asset Management LLC purchased a new stake in AstroNova in the 4th quarter worth $4,507,000. Bridgeway Capital Management LLC lifted its stake in AstroNova by 7.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 39,274 shares of the business services provider's stock worth $472,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in AstroNova by 14.6% in the 4th quarter. Northern Trust Corp now owns 65,359 shares of the business services provider's stock worth $785,000 after purchasing an additional 8,314 shares in the last quarter. Institutional investors 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).