Northland Capmk Upgrades Allient (NASDAQ:ALNT) to Strong-Buy

Allient (NASDAQ:ALNT) was upgraded by equities research analysts at Northland Capmk from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Northland Securities upgraded Allient from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $35.00 in a research report on Tuesday.

Allient Price Performance

Shares of ALNT opened at $26.75 on Tuesday. The firm has a fifty day simple moving average of $25.18 and a two-hundred day simple moving average of $22.57. The firm has a market cap of $450.47 million, a PE ratio of 30.40 and a beta of 1.61. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. Allient has a 1-year low of $16.91 and a 1-year high of $36.33.

Institutional Trading of Allient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Allient by 136.2% in the third quarter. SG Americas Securities LLC now owns 11,638 shares of the company’s stock worth $221,000 after buying an additional 6,711 shares in the last quarter. Creative Planning bought a new position in shares of Allient during the 3rd quarter valued at approximately $199,000. Copeland Capital Management LLC bought a new stake in Allient during the 3rd quarter worth approximately $50,000. Assenagon Asset Management S.A. lifted its holdings in Allient by 56.4% during the third quarter. Assenagon Asset Management S.A. now owns 119,754 shares of the company’s stock valued at $2,274,000 after purchasing an additional 43,167 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in shares of Allient by 1,798.7% in the third quarter. Pathway Financial Advisers LLC now owns 2,924 shares of the company’s stock worth $56,000 after purchasing an additional 2,770 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

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.