Allied Motion Technologies (AMOT) Downgraded by BidaskClub

Allied Motion Technologies (NASDAQ:AMOT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Allied Motion Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. ValuEngine cut Allied Motion Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.00.

NASDAQ:AMOT traded down $0.04 during trading hours on Monday, reaching $34.96. 21,564 shares of the stock were exchanged, compared to its average volume of 59,767. The company has a quick ratio of 1.50, a current ratio of 2.67 and a debt-to-equity ratio of 1.21. Allied Motion Technologies has a twelve month low of $34.01 and a twelve month high of $55.47. The stock has a market capitalization of $335.97 million, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.71 and a beta of 1.63.

Allied Motion Technologies (NASDAQ:AMOT) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Allied Motion Technologies had a return on equity of 16.01% and a net margin of 4.94%. The company had revenue of $93.90 million for the quarter. On average, sell-side analysts expect that Allied Motion Technologies will post 2.05 EPS for the current fiscal year.

In related news, Director Michael R. Winter acquired 1,400 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $35.35 per share, with a total value of $49,490.00. Following the completion of the transaction, the director now owns 16,118 shares of the company’s stock, valued at $569,771.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. WealthTrust Arizona LLC increased its position in shares of Allied Motion Technologies by 60.0% during the fourth quarter. WealthTrust Arizona LLC now owns 800 shares of the technology company’s stock worth $36,000 after acquiring an additional 300 shares during the period. Advisor Group Inc. increased its position in shares of Allied Motion Technologies by 64.7% during the fourth quarter. Advisor Group Inc. now owns 1,400 shares of the technology company’s stock worth $63,000 after acquiring an additional 550 shares during the period. Citigroup Inc. increased its position in shares of Allied Motion Technologies by 27.1% during the fourth quarter. Citigroup Inc. now owns 3,650 shares of the technology company’s stock worth $163,000 after acquiring an additional 779 shares during the period. Marshall Wace LLP purchased a new stake in shares of Allied Motion Technologies during the first quarter worth $29,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Allied Motion Technologies during the fourth quarter worth $38,000. 48.84% of the stock is currently owned by institutional investors and hedge funds.

About Allied Motion Technologies

Allied Motion Technologies, Inc designs, manufactures, and sells precision and specialty motion control components and systems that are used in a range of industries worldwide. It provides automotive brushless (BL) DC motors, power steering solutions, and special purpose motors; fractional horsepower permanent magnet DC and BLDC motors serving a range of original equipment applications; and high performance BLDC motors, including servo motors, frameless motors, torque motors, slot less motors, high resolution encoders, and motor/encoder assemblies.

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