AstroNova, Inc. (NASDAQ:ALOT) Sees Significant Decrease in Short Interest

AstroNova, Inc. (NASDAQ:ALOT) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 8,500 shares, a drop of 66.1% from the December 31st total of 25,100 shares. Based on an average daily volume of 18,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of AstroNova in a report on Tuesday. They issued a “buy” rating for the company.

Hedge Funds Weigh In On AstroNova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. increased its holdings in AstroNova by 23.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 68,000 shares of the business services provider’s stock worth $915,000 after purchasing an additional 13,000 shares during the period. Geode Capital Management LLC increased its stake in AstroNova by 10.5% in the third quarter. Geode Capital Management LLC now owns 69,309 shares of the business services provider’s stock valued at $933,000 after purchasing an additional 6,592 shares during the last quarter. Finally, Peapod Lane Capital LLC acquired a new stake in AstroNova during the fourth quarter worth approximately $1,536,000. Hedge funds and other institutional investors own 43.02% of the company’s stock.

AstroNova Price Performance

ALOT stock opened at $12.09 on Thursday. The business’s fifty day moving average price is $13.44 and its 200 day moving average price is $13.94. AstroNova has a 12-month low of $11.00 and a 12-month high of $18.25. The company has a current ratio of 1.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $91.00 million, a PE ratio of 24.17 and a beta of 0.67.

AstroNova (NASDAQ:ALOT) last posted its quarterly earnings data on Thursday, December 12th. The business services provider reported $0.06 EPS for the quarter. AstroNova had a net margin of 2.49% and a return on equity of 5.21%.

About AstroNova

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