AstroNova, Inc. $ALOT Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 36,790 AstroNova shares worth approximately $1.05 million, representing about 0.47% of the company.
• Several other institutional investors initiated or increased positions during the quarter, with institutional and hedge-fund ownership reaching 43.02% of outstanding shares.
• AstroNova shares opened at $28.99, near their 52-week high of $29.00, while analyst sentiment remained negative overall with a consensus “Sell” rating.

Bank of America Corp DE bought a new position in shares of AstroNova, Inc. (NASDAQ:ALOT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 36,790 shares of the business services provider's stock, valued at approximately $1,047,000. Bank of America Corp DE owned approximately 0.47% of AstroNova as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC acquired a new stake in AstroNova in the 2nd quarter valued at about $78,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AstroNova in the second quarter valued at about $257,000. Renaissance Technologies LLC boosted its position in AstroNova by 9.8% during the first quarter. Renaissance Technologies LLC now owns 113,940 shares of the business services provider's stock worth $1,047,000 after purchasing an additional 10,191 shares in the last quarter. CM Wealth Advisors LLC acquired a new stake in AstroNova during the 2nd quarter valued at $383,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AstroNova during the second quarter worth about $542,000. Hedge funds and other institutional investors own 43.02% of the company's stock.

AstroNova Stock Performance

Shares of AstroNova stock opened at $28.99 on Friday. The company's 50 day moving average price is $28.94 and its two-hundred day moving average price is $21.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 0.73. AstroNova, Inc. has a fifty-two week low of $6.96 and a fifty-two week high of $29.00. The firm has a market capitalization of $227.31 million, a P/E ratio of -161.05 and a beta of 0.85.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALOT shares. Wall Street Zen upgraded AstroNova from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of AstroNova in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

AstroNova Company Profile

AstroNova, Inc is a technology company that designs, manufactures and distributes data acquisition, test and measurement, aerospace and product identification solutions. Its products are used to capture, record, analyze and communicate operational data in demanding industrial, transportation and manufacturing environments.

Through its Test and Measurement business, AstroNova offers data acquisition systems, recorders, software and related equipment used for monitoring and analyzing electrical, mechanical and environmental conditions.

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