Allied Motion Technologies, Inc. (AMOT) Lowered to Strong Sell at Zacks Investment Research
Allied Motion Technologies, Inc. (NASDAQ:AMOT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday.
According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “
Several other equities analysts have also commented on the company. TheStreet lowered Allied Motion Technologies from a “b” rating to a “c+” rating in a research report on Tuesday, August 8th. BidaskClub upgraded Allied Motion Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th.
Shares of Allied Motion Technologies (AMOT) traded up 7.22% during mid-day trading on Friday, hitting $24.95. The stock had a trading volume of 20,880 shares. Allied Motion Technologies has a 12 month low of $15.54 and a 12 month high of $30.31. The stock has a market cap of $235.83 million, a P/E ratio of 26.89 and a beta of 1.88. The firm has a 50 day moving average price of $27.24 and a 200-day moving average price of $24.56.
Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.31 by $0.07. The firm had revenue of $60.34 million for the quarter, compared to the consensus estimate of $62.17 million. Allied Motion Technologies had a net margin of 3.41% and a return on equity of 10.65%. On average, equities research analysts forecast that Allied Motion Technologies will post $1.00 EPS for the current year.
In other news, Director Richard D. /Co/ Smith sold 3,900 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $24.93, for a total transaction of $97,227.00. Following the transaction, the director now directly owns 47,429 shares in the company, valued at approximately $1,182,404.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. /Co/ Smith sold 5,000 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $25.69, for a total value of $128,450.00. Following the transaction, the director now owns 47,429 shares in the company, valued at $1,218,451.01. The disclosure for this sale can be found here. Insiders have sold a total of 20,916 shares of company stock worth $540,273 over the last quarter. Corporate insiders own 30.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in AMOT. Walthausen & Co. LLC raised its position in shares of Allied Motion Technologies by 11.9% in the second quarter. Walthausen & Co. LLC now owns 240,287 shares of the technology company’s stock valued at $6,541,000 after buying an additional 25,476 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Allied Motion Technologies by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,144 shares of the technology company’s stock valued at $167,000 after buying an additional 401 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Allied Motion Technologies during the second quarter valued at approximately $1,145,000. Tudor Investment Corp ET AL purchased a new position in shares of Allied Motion Technologies during the second quarter valued at approximately $207,000. Finally, PDT Partners LLC purchased a new position in shares of Allied Motion Technologies during the second quarter valued at approximately $343,000. Hedge funds and other institutional investors own 39.42% of the company’s stock.
Allied Motion Technologies Company Profile
Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.
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