StockNews.com Begins Coverage on AstroNova (NASDAQ:ALOT)

Equities researchers at StockNews.com initiated coverage on shares of AstroNova (NASDAQ:ALOT) in a research note issued on Thursday. The brokerage set a “buy” rating on the business services provider’s stock.

AstroNova Stock Down 1.0 %

ALOT stock opened at $8.81 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.83 and a quick ratio of 0.77. The stock has a market capitalization of $66.33 million, a P/E ratio of 17.62 and a beta of 0.49. The business has a fifty day moving average price of $10.40 and a 200-day moving average price of $12.43. AstroNova has a 1-year low of $8.33 and a 1-year high of $18.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of AstroNova by 10.5% in the third quarter. Geode Capital Management LLC now owns 69,309 shares of the business services provider’s stock worth $933,000 after buying an additional 6,592 shares during the period. Peapod Lane Capital LLC purchased a new stake in AstroNova in the 4th quarter worth approximately $1,536,000. Diamond Hill Capital Management Inc. raised its stake in AstroNova by 22.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 83,544 shares of the business services provider’s stock worth $1,003,000 after acquiring an additional 15,544 shares during the period. Northern Trust Corp lifted its holdings in AstroNova by 14.6% during the fourth quarter. Northern Trust Corp now owns 65,359 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 8,314 shares in the last quarter. Finally, Mink Brook Asset Management LLC bought a new position in shares of AstroNova in the fourth quarter worth approximately $4,507,000. 43.02% of the stock is owned by hedge funds and other institutional investors.

AstroNova Company Profile

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).