Allied Motion Technologies (AMOT) Hits New 12-Month High at $50.26

Shares of Allied Motion Technologies, Inc. (NASDAQ:AMOT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.26 and last traded at $50.29, with a volume of 3496 shares traded. The stock had previously closed at $48.18.

Several analysts recently issued reports on AMOT shares. TheStreet upgraded Allied Motion Technologies from a “c+” rating to a “b+” rating in a research report on Wednesday, May 30th. Zacks Investment Research upgraded Allied Motion Technologies from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, May 24th. BidaskClub cut Allied Motion Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. Finally, ValuEngine upgraded Allied Motion Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd.

The firm has a market cap of $459.86 million, a price-to-earnings ratio of 41.50, a P/E/G ratio of 4.05 and a beta of 1.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.55.

Allied Motion Technologies (NASDAQ:AMOT) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.15. The business had revenue of $76.58 million during the quarter. Allied Motion Technologies had a return on equity of 14.64% and a net margin of 3.58%. analysts forecast that Allied Motion Technologies, Inc. will post 1.71 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Allied Motion Technologies by 0.7% during the 4th quarter. BlackRock Inc. now owns 446,949 shares of the technology company’s stock valued at $14,790,000 after buying an additional 3,203 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Allied Motion Technologies by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 430,304 shares of the technology company’s stock valued at $17,105,000 after buying an additional 5,457 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Allied Motion Technologies by 53.3% during the 4th quarter. Renaissance Technologies LLC now owns 185,800 shares of the technology company’s stock valued at $6,148,000 after buying an additional 64,600 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Allied Motion Technologies by 8.8% during the 1st quarter. Russell Investments Group Ltd. now owns 173,085 shares of the technology company’s stock valued at $6,881,000 after buying an additional 13,933 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Allied Motion Technologies by 4.7% during the 1st quarter. Millennium Management LLC now owns 108,008 shares of the technology company’s stock valued at $4,293,000 after buying an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 49.34% 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 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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