Zacks Investment Research downgraded shares of Allied Motion Technologies (NASDAQ:AMOT) from a strong-buy rating to a hold rating in a research note published on Wednesday, January 3rd.

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 research analysts have also issued reports on the stock. BidaskClub lowered shares of Allied Motion Technologies from a buy rating to a hold rating in a report on Tuesday, December 5th. TheStreet upgraded shares of Allied Motion Technologies from a c+ rating to a b rating in a report on Thursday, November 16th.

Shares of Allied Motion Technologies (AMOT) opened at $35.20 on Wednesday. The company has a market cap of $331.04, a PE ratio of 37.45, a P/E/G ratio of 1.56 and a beta of 1.94. Allied Motion Technologies has a 12 month low of $19.09 and a 12 month high of $36.20. The company has a quick ratio of 1.76, a current ratio of 2.80 and a debt-to-equity ratio of 0.71.

Allied Motion Technologies (NASDAQ:AMOT) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06. Allied Motion Technologies had a net margin of 3.57% and a return on equity of 10.92%. equities analysts anticipate that Allied Motion Technologies will post 1.1 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors lifted its holdings in shares of Allied Motion Technologies by 11.8% during the 2nd quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock worth $130,000 after acquiring an additional 505 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 worth $167,000 after acquiring an additional 401 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of 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 worth $191,000 after acquiring an additional 3,213 shares during the period. Citigroup Inc. lifted its holdings in shares of Allied Motion Technologies by 130.8% during the 2nd quarter. Citigroup Inc. now owns 7,449 shares of the technology company’s stock worth $203,000 after acquiring an additional 4,222 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Allied Motion Technologies during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 41.39% of the company’s stock.

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About Allied Motion Technologies

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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