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

Allied Motion Technologies, Inc. (NASDAQ:AMOT) shares reached a new 52-week high during 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.

AMOT has been the subject of several research analyst reports. BidaskClub lowered Allied Motion Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 19th. ValuEngine upgraded Allied Motion Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. TheStreet upgraded Allied Motion Technologies from a “c+” rating to a “b+” rating in a research report on Wednesday, May 30th. Finally, Zacks Investment Research upgraded Allied Motion Technologies from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Thursday, May 24th.

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The stock has a market capitalization of $459.86 million, a P/E ratio of 40.72, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. Allied Motion Technologies had a return on equity of 14.64% and a net margin of 3.58%. The business had revenue of $76.58 million during the quarter. analysts forecast that Allied Motion Technologies, Inc. will post 1.71 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMOT. Millennium Management LLC boosted its holdings in Allied Motion Technologies by 1,044.1% in the fourth quarter. Millennium Management LLC now owns 103,208 shares of the technology company’s stock valued at $3,415,000 after purchasing an additional 94,187 shares during the period. Ancora Advisors LLC purchased a new position in Allied Motion Technologies in the first quarter valued at $2,687,000. Renaissance Technologies LLC boosted its holdings in Allied Motion Technologies by 53.3% in the fourth quarter. Renaissance Technologies LLC now owns 185,800 shares of the technology company’s stock valued at $6,148,000 after purchasing an additional 64,600 shares during the period. Mackay Shields LLC purchased a new position in Allied Motion Technologies in the first quarter valued at $1,690,000. Finally, EAM Global Investors LLC purchased a new position in Allied Motion Technologies in the first quarter valued at $1,238,000. Institutional investors and hedge funds own 49.34% of the company’s stock.

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.