Allient (NASDAQ:ALNT) Reaches New 12-Month High – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $65.48 and last traded at $64.58, with a volume of 5368 shares changing hands. The stock had previously closed at $64.01.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALNT. JPMorgan Chase & Co. started coverage on shares of Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 price target for the company. Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Finally, Roth Mkm lifted their target price on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allient has a consensus rating of “Hold” and a consensus price target of $50.33.

Allient Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The firm’s 50-day moving average price is $57.50 and its two-hundred day moving average price is $50.60. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 55.12 and a beta of 1.53.

Insider Activity

In other news, VP Ashish Bendre sold 16,000 shares of Allient stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the sale, the vice president owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. The trade was a 40.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. White Pine Capital LLC lifted its holdings in shares of Allient by 1.6% in the 2nd quarter. White Pine Capital LLC now owns 17,218 shares of the company’s stock worth $625,000 after acquiring an additional 269 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after purchasing an additional 390 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after buying an additional 633 shares during the last quarter. Pullen Investment Management LLC increased its holdings in shares of Allient by 1.3% in the 2nd quarter. Pullen Investment Management LLC now owns 49,615 shares of the company’s stock valued at $1,802,000 after acquiring an additional 654 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Allient during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Company Profile

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.