Northland Securities upgraded shares of Allient (NASDAQ:ALNT - Free Report) from a market perform rating to an outperform rating in a research report released on Tuesday, Marketbeat.com reports. They currently have $35.00 price target on the stock, up from their prior price target of $30.00.
Allient Stock Down 0.6 %
NASDAQ ALNT traded down $0.17 during mid-day trading on Tuesday, reaching $26.53. The stock had a trading volume of 66,206 shares, compared to its average volume of 88,854. Allient has a 1 year low of $16.91 and a 1 year high of $36.33. The stock has a market cap of $446.68 million, a PE ratio of 30.11 and a beta of 1.61. The company has a fifty day moving average price of $25.18 and a 200 day moving average price of $22.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18.
Institutional Investors Weigh In On Allient
A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Allient by 843.2% during the 3rd quarter. FMR LLC now owns 1,153,537 shares of the company's stock valued at $21,906,000 after buying an additional 1,031,243 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Allient by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 702,254 shares of the company's stock valued at $17,051,000 after acquiring an additional 3,326 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Allient by 23,963.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company's stock valued at $9,948,000 after acquiring an additional 404,505 shares during the period. Geode Capital Management LLC grew its position in shares of Allient by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock valued at $8,396,000 after acquiring an additional 1,560 shares during the period. Finally, State Street Corp grew its position in shares of Allient by 0.8% during the 3rd quarter. State Street Corp now owns 306,239 shares of the company's stock valued at $5,815,000 after acquiring an additional 2,453 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.
Allient Company Profile
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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.
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