Allot Ltd. (NASDAQ:ALLT) Short Interest Up 28.2% in August

Key Points

• Allot Ltd. experienced a significant increase in short interest in August, reaching 1,220,000 shares, a rise of 28.2% from July.
• Analysts have mixed ratings for Allot, with the average being a "Strong Buy", while Zacks raised its rating to "strong-buy" and Wall Street Zen downgraded it to "buy."
• Allot reported earnings of ($0.01) per share for the last quarter, beating estimates, with revenues of $24.05 million compared to expectations of $22.90 million.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 1,220,000 shares, an increase of 28.2% from the July 31st total of 951,900 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 672,000 shares, the short-interest ratio is currently 1.8 days. Based on an average trading volume of 672,000 shares, the short-interest ratio is currently 1.8 days. Approximately 3.8% of the shares of the stock are short sold.

Allot Price Performance

ALLT stock traded down $0.12 during midday trading on Friday, reaching $9.27. The company had a trading volume of 476,849 shares, compared to its average volume of 566,521. Allot has a 1 year low of $2.78 and a 1 year high of $10.77. The company has a market capitalization of $431.34 million, a P/E ratio of -185.40 and a beta of 1.43. The firm has a 50-day moving average price of $8.15 and a 200-day moving average price of $7.32.

Allot (NASDAQ:ALLT - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. The business had revenue of $24.05 million during the quarter, compared to analysts' expectations of $22.90 million. On average, equities analysts predict that Allot will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

ALLT has been the subject of several recent analyst reports. Wall Street Zen cut shares of Allot from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 24th. William Blair initiated coverage on shares of Allot in a research note on Thursday, August 21st. They set an "outperform" rating for the company. Finally, Zacks Research raised shares of Allot from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, Allot currently has a consensus rating of "Strong Buy".

Hedge Funds Weigh In On Allot

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLT. FNY Investment Advisers LLC grew its stake in Allot by 33.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider's stock worth $119,000 after buying an additional 3,500 shares in the last quarter. DCF Advisers LLC purchased a new position in Allot in the 1st quarter worth approximately $138,000. OMERS ADMINISTRATION Corp purchased a new position in Allot in the 2nd quarter worth approximately $139,000. Arrowstreet Capital Limited Partnership purchased a new position in Allot in the 2nd quarter worth approximately $156,000. Finally, Magnetar Financial LLC purchased a new position in Allot in the 2nd quarter worth approximately $173,000. Hedge funds and other institutional investors own 51.50% of the company's stock.

About Allot

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.