Allied Motion Technologies (AMOT) Lowered to “Hold” at Zacks Investment Research

Allied Motion Technologies (NASDAQ:AMOT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

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 analysts also recently weighed in on AMOT. TheStreet upgraded Allied Motion Technologies from a “c+” rating to a “b” rating in a research note on Thursday, November 16th. BidaskClub downgraded Allied Motion Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th.

Allied Motion Technologies (NASDAQ AMOT) traded up $1.78 during trading on Wednesday, hitting $34.87. The company had a trading volume of 35,500 shares, compared to its average volume of 35,100. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.80 and a quick ratio of 1.76. The stock has a market cap of $312.80, a P/E ratio of 37.10, a P/E/G ratio of 1.47 and a beta of 1.94. Allied Motion Technologies has a 52 week low of $19.09 and a 52 week high of $35.24.

A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Allied Motion Technologies by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,144 shares of the technology company’s stock valued at $167,000 after purchasing an additional 401 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Allied Motion Technologies by 11.8% during the 2nd quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock valued at $130,000 after purchasing an additional 505 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Allied Motion Technologies by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,434 shares of the technology company’s stock valued at $3,524,000 after purchasing an additional 2,097 shares during the last quarter. Teachers Advisors LLC boosted its stake in Allied Motion Technologies by 19.1% during the 2nd quarter. Teachers Advisors LLC now owns 13,107 shares of the technology company’s stock valued at $357,000 after purchasing an additional 2,098 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Allied Motion Technologies by 74.6% during the 3rd quarter. Wells Fargo & Company MN now owns 7,520 shares of the technology company’s stock valued at $191,000 after purchasing an additional 3,213 shares during the last quarter. Institutional investors and hedge funds own 41.12% of the company’s stock.

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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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