Allient (NASDAQ:ALNT) Reaches New 52-Week High – Should You Buy?

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high on Tuesday . The stock traded as high as $70.00 and last traded at $68.87, with a volume of 300591 shares changing hands. The stock had previously closed at $65.74.

Wall Street Analyst Weigh In

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

Allient Stock Down 0.2%

The company’s 50-day simple moving average is $59.06 and its two-hundred day simple moving average is $51.69. The firm has a market capitalization of $1.11 billion, a P/E ratio of 58.46 and a beta of 1.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01.

Insider Transactions at Allient

In other Allient news, VP Ashish Bendre sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total transaction of $836,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALNT. Cullen Frost Bankers Inc. increased its holdings in Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after acquiring an additional 209 shares in the last quarter. White Pine Capital LLC lifted its holdings in Allient by 1.6% during the second quarter. White Pine Capital LLC now owns 17,218 shares of the company’s stock valued at $625,000 after purchasing an additional 269 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Allient by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after purchasing an additional 390 shares during the period. Larson Financial Group LLC increased its stake in shares of Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Allient by 9.2% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $347,000 after purchasing an additional 542 shares in the last quarter. 61.57% of the stock is owned by hedge funds and other institutional investors.

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.