Astronova Stock Market Value
| ALOT Stock | USD 17.44 0.24 1.40% |
| Symbol | AstroNova |
AstroNova Price To Book Ratio
Is AstroNova's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of AstroNova. If investors know AstroNova will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about AstroNova listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.995 | Earnings Share 0.63 | Revenue Per Share 19.971 | Quarterly Revenue Growth (0.01) | Return On Assets 0.0522 |
The market value of AstroNova is measured differently than its book value, which is the value of AstroNova that is recorded on the company's balance sheet. Investors also form their own opinion of AstroNova's value that differs from its market value or its book value, called intrinsic value, which is AstroNova's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because AstroNova's market value can be influenced by many factors that don't directly affect AstroNova's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between AstroNova's value and its price as these two are different measures arrived at by different means. Investors typically determine if AstroNova is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AstroNova's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
AstroNova 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to AstroNova's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of AstroNova.
| 01/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in AstroNova on January 26, 2024 and sell it all today you would earn a total of 0.00 from holding AstroNova or generate 0.0% return on investment in AstroNova over 90 days. AstroNova is related to or competes with Nano Dimension, DPCM Capital, Velo3D, Desktop Metal, 3D Systems, and Canaan. AstroNova, Inc. designs, develops, manufactures, and distributes specialty printers, and data acquisition and analysis s... More
AstroNova Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure AstroNova's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess AstroNova upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.18 | |||
| Value At Risk | (2.58) | |||
| Potential Upside | 2.62 |
AstroNova Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AstroNova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AstroNova's standard deviation. In reality, there are many statistical measures that can use AstroNova historical prices to predict the future AstroNova's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of AstroNova's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
AstroNova Backtested Returns
AstroNova secures Sharpe Ratio (or Efficiency) of -0.0269, which signifies that the company had a -0.0269% return per unit of risk over the last 3 months. AstroNova exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm AstroNova's Mean Deviation of 1.04, standard deviation of 1.47, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.2, which signifies not very significant fluctuations relative to the market. As returns on the market increase, AstroNova's returns are expected to increase less than the market. However, during the bear market, the loss of holding AstroNova is expected to be smaller as well. AstroNova has an expected return of -0.0389%. Please make sure to confirm AstroNova treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if AstroNova performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.12 |
Insignificant reverse predictability
AstroNova has insignificant reverse predictability. Overlapping area represents the amount of predictability between AstroNova time series from 26th of January 2024 to 11th of March 2024 and 11th of March 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of AstroNova price movement. The serial correlation of -0.12 indicates that less than 12.0% of current AstroNova price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.19 |
AstroNova lagged returns against current returns
Autocorrelation, which is AstroNova stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting AstroNova's stock expected returns. We can calculate the autocorrelation of AstroNova returns to help us make a trade decision. For example, suppose you find that AstroNova has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
AstroNova regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If AstroNova stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AstroNova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AstroNova stock over time.
Current vs Lagged Prices |
| Timeline |
AstroNova Lagged Returns
When evaluating AstroNova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AstroNova stock have on its future price. AstroNova autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, AstroNova autocorrelation shows the relationship between AstroNova stock current value and its past values and can show if there is a momentum factor associated with investing in AstroNova.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards AstroNova in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, AstroNova's short interest history, or implied volatility extrapolated from AstroNova options trading.
Pair Trading with AstroNova
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if AstroNova position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AstroNova will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to AstroNova could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AstroNova when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back AstroNova - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling AstroNova to buy it.
The correlation of AstroNova is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AstroNova moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AstroNova moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for AstroNova can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out AstroNova Correlation, AstroNova Volatility and AstroNova Alpha and Beta module to complement your research on AstroNova. For more information on how to buy AstroNova Stock please use our How to Invest in AstroNova guide.You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for AstroNova Stock analysis
When running AstroNova's price analysis, check to measure AstroNova's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy AstroNova is operating at the current time. Most of AstroNova's value examination focuses on studying past and present price action to predict the probability of AstroNova's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move AstroNova's price. Additionally, you may evaluate how the addition of AstroNova to your portfolios can decrease your overall portfolio volatility.
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AstroNova technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.