Short Interest in AstroNova Inc (NASDAQ:ALOT) Drops By 34.4%

AstroNova Inc (NASDAQ:ALOT) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 104,400 shares, a drop of 34.4% from the June 30th total of 159,200 shares. Based on an average daily volume of 53,100 shares, the short-interest ratio is presently 2.0 days. Currently, 1.6% of the shares of the stock are sold short.

NASDAQ:ALOT opened at $6.88 on Friday. The stock has a 50 day moving average of $7.10 and a two-hundred day moving average of $8.57. AstroNova has a 12 month low of $5.29 and a 12 month high of $24.61. The firm has a market cap of $49.28 million, a P/E ratio of 114.67, a price-to-earnings-growth ratio of 14.33 and a beta of 0.54. The company has a current ratio of 2.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

AstroNova (NASDAQ:ALOT) last issued its quarterly earnings results on Thursday, June 11th. The business services provider reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.25. The firm had revenue of $30.92 million during the quarter. AstroNova had a return on equity of 0.68% and a net margin of 0.38%. On average, research analysts forecast that AstroNova will post 0.04 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of AstroNova by 32.2% in the fourth quarter. UBS Group AG now owns 9,123 shares of the business services provider’s stock valued at $125,000 after buying an additional 2,220 shares during the last quarter. Wells Fargo & Company MN grew its stake in AstroNova by 41.9% during the 1st quarter. Wells Fargo & Company MN now owns 16,362 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 4,828 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in AstroNova in the 1st quarter valued at about $146,000. Marquette Asset Management LLC purchased a new position in AstroNova in the 2nd quarter worth approximately $151,000. Finally, Acadian Asset Management LLC lifted its stake in AstroNova by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 20,002 shares of the business services provider’s stock worth $155,000 after purchasing an additional 3,205 shares in the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded shares of AstroNova from a “sell” rating to a “hold” rating in a research report on Wednesday, June 24th.

About AstroNova

AstroNova, Inc designs, develops, manufactures, and distributes specialty printers, and data acquisition and analysis systems in the United States, Canada, Asia, Europe, Central and South America, and internationally. The company operates through two segments, Product Identification and Test & Measurement (T&M).

Further Reading: Outperform Rating

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