Allied Motion Technologies, Inc. (AMOT) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Allied Motion Technologies, Inc. (NASDAQ:AMOT) released its earnings results on Wednesday. The technology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.31 by $0.07, Bloomberg Earnings reports. Allied Motion Technologies had a return on equity of 11.99% and a net margin of 3.62%. The company had revenue of $60.34 million during the quarter, compared to analysts’ expectations of $62.17 million.

Allied Motion Technologies (AMOT) traded down 5.82% during mid-day trading on Thursday, reaching $25.72. 39,969 shares of the company were exchanged. The stock’s 50-day moving average price is $27.85 and its 200-day moving average price is $24.32. Allied Motion Technologies has a 1-year low of $15.54 and a 1-year high of $30.31. The stock has a market capitalization of $243.59 million, a price-to-earnings ratio of 24.71 and a beta of 1.88.

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Several equities research analysts recently weighed in on AMOT shares. Zacks Investment Research upgraded shares of Allied Motion Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. BidaskClub upgraded shares of Allied Motion Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th.

In related news, Director Richard D. /Co/ Smith sold 3,016 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $27.85, for a total transaction of $83,995.60. Following the completion of the sale, the director now owns 47,429 shares in the company, valued at $1,320,897.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard D. /Co/ Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $25.69, for a total value of $128,450.00. Following the sale, the director now owns 47,429 shares of the company’s stock, valued at approximately $1,218,451.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,916 shares of company stock valued at $540,273. 30.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the company. Algert Global LLC boosted its stake in shares of Allied Motion Technologies by 8.0% in the first quarter. Algert Global LLC now owns 60,312 shares of the technology company’s stock worth $1,212,000 after buying an additional 4,490 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Allied Motion Technologies by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 363,574 shares of the technology company’s stock worth $7,777,000 after buying an additional 11,676 shares during the last quarter. ACK Asset Management LLC bought a new position in Allied Motion Technologies during the first quarter worth about $5,225,000. Renaissance Technologies LLC raised its position in Allied Motion Technologies by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 68,600 shares of the technology company’s stock worth $1,467,000 after buying an additional 9,100 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in Allied Motion Technologies during the second quarter worth about $218,000. Hedge funds and other institutional investors own 39.04% 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 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.