BlackRock Inc. Invests $2.86 Million in AstroNova, Inc. $ALOT

Key Points

• BlackRock acquired 100,594 AstroNova shares worth approximately $2.86 million, giving it a 1.28% stake. Institutional investors collectively own 43.02% of the company.
• Analyst sentiment remains cautious: although Wall Street Zen upgraded the stock to “strong-buy,” Weiss Ratings maintained a “sell” rating, and the overall consensus is “Sell.”
• AstroNova reported quarterly EPS of $0.19, beating estimates by $0.14, while revenue of $39.36 million exceeded expectations. Shares opened at $28.99, near their 12-month high of $29.00.

BlackRock Inc. bought a new position in shares of AstroNova, Inc. (NASDAQ:ALOT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 100,594 shares of the business services provider's stock, valued at approximately $2,864,000. BlackRock Inc. owned approximately 1.28% of AstroNova at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in AstroNova by 1.4% in the second quarter. Geode Capital Management LLC now owns 74,138 shares of the business services provider's stock valued at $859,000 after purchasing an additional 1,036 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of AstroNova by 1.2% in the 4th quarter. Renaissance Technologies LLC now owns 103,749 shares of the business services provider's stock valued at $897,000 after buying an additional 1,207 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of AstroNova in the 2nd quarter worth approximately $78,000. Vanguard Group Inc. raised its stake in shares of AstroNova by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 352,131 shares of the business services provider's stock worth $3,606,000 after acquiring an additional 9,533 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in AstroNova during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 43.02% of the company's stock.

Analyst Upgrades and Downgrades

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

AstroNova Price Performance

Shares of AstroNova stock opened at $28.99 on Friday. The stock has a market capitalization of $227.31 million, a P/E ratio of -161.05 and a beta of 0.85. The business has a 50 day simple moving average of $28.78 and a two-hundred day simple moving average of $18.80. AstroNova, Inc. has a 12 month low of $6.96 and a 12 month high of $29.00. 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 (NASDAQ:ALOT - Get Free Report) last announced its earnings results on Monday, June 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. AstroNova had a negative net margin of 0.88% and a positive return on equity of 2.94%. The company had revenue of $39.36 million for the quarter, compared to analysts' expectations of $30.67 million. During the same quarter in the previous year, the company posted ($0.05) EPS.

AstroNova Company Profile

AstroNova, Inc is a global provider of precision graphic communications equipment and identification solutions. The company operates two primary business segments: the NovaTech division, which designs and manufactures high‐speed data acquisition, recording and analysis systems for industrial, power generation, oil and gas, aerospace and defense markets; and the AstroNova division, which offers digital color label printing and packaging solutions under brands such as QuickLabel and RTag. These products are engineered to support mission‐critical applications that require reliable data capture or product identification across complex supply chains.

Headquartered in West Warwick, Rhode Island, AstroNova traces its heritage to the development of ruggedized oscillographs and recording instruments for industrial clients.

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