Short Interest in Allient Inc. (NASDAQ:ALNT) Rises By 64.1%

Allient Inc. (NASDAQ:ALNT - Get Free Report) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 256,700 shares, a growth of 64.1% from the October 15th total of 156,400 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 138,200 shares, the short-interest ratio is presently 1.9 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in shares of Allient in the 1st quarter worth about $1,110,000. Jacobs Levy Equity Management Inc. bought a new stake in Allient during the first quarter worth about $1,332,000. Gabelli Funds LLC acquired a new stake in shares of Allient during the first quarter worth approximately $2,461,000. Kennedy Capital Management LLC bought a new position in shares of Allient in the first quarter valued at approximately $2,352,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Allient in the 1st quarter worth approximately $5,696,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALNT has been the topic of a number of research analyst reports. Craig Hallum lowered their target price on shares of Allient from $41.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Northland Securities lowered their price target on Allient from $35.00 to $30.00 and set a "market perform" rating on the stock in a research report on Friday, August 9th. Finally, Roth Mkm cut their price objective on Allient from $39.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th.

Allient Stock Performance

ALNT stock traded up $0.93 during midday trading on Wednesday, hitting $24.21. The stock had a trading volume of 190,612 shares, compared to its average volume of 99,833. Allient has a 52 week low of $16.91 and a 52 week high of $36.33. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $19.14 and a 200 day simple moving average of $23.42. The firm has a market capitalization of $407.70 million, a price-to-earnings ratio of 27.40 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. Allient had a net margin of 2.64% and a return on equity of 10.80%. The firm had revenue of $125.21 million during the quarter, compared to analyst estimates of $124.28 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, equities research analysts anticipate that Allient will post 1.39 earnings per share for the current year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, November 21st. Allient's dividend payout ratio (DPR) is 13.64%.

About Allient

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.