Shares of Allot Ltd. (NASDAQ:ALLT – Get Free Report) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $8.36 and traded as high as $8.61. Allot shares last traded at $8.56, with a volume of 239,685 shares.
Wall Street Analysts Forecast Growth
Several research analysts have commented on ALLT shares. Northland Securities set a $17.00 price objective on shares of Allot in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Allot presently has an average rating of “Moderate Buy” and a consensus price target of $13.38.
View Our Latest Research Report on ALLT
Allot Stock Performance
The firm’s fifty day moving average is $8.36 and its 200-day moving average is $8.00. The company has a market capitalization of $422.01 million, a P/E ratio of 38.91 and a beta of 1.51.
Allot (NASDAQ:ALLT – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $27.74 million for the quarter, compared to analyst estimates of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. As a group, analysts expect that Allot Ltd. will post 0.23 EPS for the current fiscal year.
Insider Activity at Allot
In other news, SVP Boaz Grossman sold 6,000 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $7.45, for a total value of $44,700.00. Following the completion of the sale, the senior vice president directly owned 186,000 shares in the company, valued at approximately $1,385,700. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gili Groner sold 26,666 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total transaction of $209,594.76. Following the completion of the transaction, the insider owned 59,467 shares of the company’s stock, valued at $467,410.62. The trade was a 30.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 37,221 shares of company stock worth $290,212. Insiders own 3.40% of the company’s stock.
Institutional Investors Weigh In On Allot
Institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its position in Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after acquiring an additional 461,175 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Allot during the 1st quarter valued at about $1,208,000. Penbrook Management LLC boosted its stake in shares of Allot by 37.1% in the 3rd quarter. Penbrook Management LLC now owns 377,395 shares of the communications equipment provider’s stock valued at $3,185,000 after purchasing an additional 102,100 shares during the last quarter. Kanen Wealth Management LLC grew its holdings in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after acquiring an additional 51,029 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Allot in the 3rd quarter valued at $247,000. 51.50% of the stock is owned by hedge funds and other institutional investors.
Allot Company Profile
Allot Ltd. is an Israeli technology company that develops network intelligence and security solutions for communications service providers. Its software and hardware are designed to help telecommunications operators monitor network traffic, manage bandwidth, improve service quality and protect infrastructure from cyber threats.
The company’s offerings have included network visibility and analytics tools, traffic management platforms, distributed denial-of-service protection, and security services for mobile, fixed-line and broadband networks.
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