Allient (NASDAQ:ALNT) Upgraded to “Outperform” at Northland Securities

Northland Securities upgraded shares of Allient (NASDAQ:ALNT) from a market perform rating to an outperform rating in a report released on Tuesday morning, Marketbeat Ratings reports. Northland Securities currently has $35.00 price objective on the stock, up from their prior price objective of $30.00.

Allient Stock Performance

ALNT opened at $26.75 on Tuesday. The business has a 50 day moving average price of $25.18 and a two-hundred day moving average price of $22.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. The company has a market capitalization of $450.47 million, a price-to-earnings ratio of 30.40 and a beta of 1.61. Allient has a 1-year low of $16.91 and a 1-year high of $36.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in shares of Allient during the 4th quarter valued at about $32,000. Point72 DIFC Ltd bought a new stake in Allient during the third quarter worth approximately $33,000. Copeland Capital Management LLC acquired a new position in Allient in the third quarter worth approximately $50,000. Pathway Financial Advisers LLC grew its position in 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 buying an additional 2,770 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Allient in the fourth quarter valued at $118,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.