Allot Ltd. (NASDAQ:ALLT – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.26 and traded as high as $8.68. Allot shares last traded at $8.43, with a volume of 267,969 shares.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Needham & Company LLC increased their price objective on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allot presently has an average rating of “Moderate Buy” and a consensus target price of $13.62.
Check Out Our Latest Stock Analysis on ALLT
Allot Trading Up 1.8%
Allot (NASDAQ:ALLT – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The firm had revenue of $26.43 million for the quarter. On average, equities analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current fiscal year.
Allot announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Allot
In other Allot news, insider Mark Shteiman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $7.58, for a total value of $45,480.00. Following the sale, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Noam Lelah sold 21,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.48, for a total value of $178,080.00. Following the transaction, the senior vice president owned 176,250 shares of the company’s stock, valued at approximately $1,494,600. This represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 47,556 shares of company stock valued at $374,464 over the last quarter. 3.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Allot
Several hedge funds have recently bought and sold shares of ALLT. QVT Financial LP grew its position in Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after acquiring an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC boosted its stake in shares of Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after purchasing an additional 51,029 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its holdings in shares of Allot by 12.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after purchasing an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Allot by 239.4% during the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after buying an additional 531,412 shares during the period. Institutional investors and hedge funds own 51.50% of the company’s stock.
Allot Company Profile
Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.
Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.
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