Zacks Investment Research Lowers Allied Motion Technologies (AMOT) to Hold

Zacks Investment Research downgraded shares of Allied Motion Technologies (NASDAQ:AMOT) from a strong-buy rating to a hold rating in a report 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. “

A number of other analysts also recently commented on AMOT. TheStreet raised Allied Motion Technologies from a c+ rating to a b rating in a research report on Thursday, November 16th. BidaskClub downgraded Allied Motion Technologies from a buy rating to a hold rating in a research report on Tuesday, December 5th.

Shares of Allied Motion Technologies (AMOT) opened at $34.18 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 1.76 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $328.49, a P/E ratio of 36.97, a P/E/G ratio of 1.55 and a beta of 1.94. Allied Motion Technologies has a 52-week low of $19.09 and a 52-week high of $35.27.

Large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors increased its position in Allied Motion Technologies by 11.8% in the second quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock worth $130,000 after buying an additional 505 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in 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 worth $167,000 after buying an additional 401 shares during the last quarter. Wells Fargo & Company MN increased its position in Allied Motion Technologies by 74.6% in the third quarter. Wells Fargo & Company MN now owns 7,520 shares of the technology company’s stock worth $191,000 after buying an additional 3,213 shares during the last quarter. Citigroup Inc. increased its position in Allied Motion Technologies by 130.8% in the second quarter. Citigroup Inc. now owns 7,449 shares of the technology company’s stock worth $203,000 after buying an additional 4,222 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Allied Motion Technologies in the second quarter worth $207,000. 41.12% of the stock is owned by institutional investors and hedge funds.

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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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