Allot (NASDAQ:ALLT) Stock Rating Lowered by Wall Street Zen

Key Points

• Allot's stock rating was downgraded from "strong-buy" to "buy" by Wall Street Zen in a recent research report.
• Shares of Allot (NASDAQ: ALLT) opened at $7.79 and have a 12-month range between $2.75 and $10.77.
• In its latest earnings report, Allot reported a net loss of ($0.01) per share, exceeding analysts' expectations, and generated $24.05 million in revenue for the quarter.

Wall Street Zen cut shares of Allot (NASDAQ:ALLT - Free Report) from a strong-buy rating to a buy rating in a report published on Sunday.

Separately, William Blair initiated coverage on shares of Allot in a research report on Thursday, August 21st. They set an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy".

Allot Stock Performance

Shares of ALLT traded down $0.11 on Friday, hitting $7.86. 280,182 shares of the stock traded hands, compared to its average volume of 545,500. The company has a market capitalization of $365.73 million, a PE ratio of -157.20 and a beta of 1.32. The business has a 50 day simple moving average of $8.14 and a 200 day simple moving average of $7.22. Allot has a one year low of $2.75 and a one year high of $10.77.

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

Hedge Funds Weigh In On Allot

Several hedge funds have recently added to or reduced their stakes in the company. Kanen Wealth Management LLC grew its stake in Allot by 19.6% in the 2nd quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider's stock worth $38,713,000 after acquiring an additional 742,146 shares in the last quarter. QVT Financial LP grew its stake in Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider's stock worth $36,598,000 after acquiring an additional 817,938 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in Allot in the 2nd quarter worth about $14,175,000. Acadian Asset Management LLC grew its stake in Allot by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider's stock worth $6,648,000 after acquiring an additional 86,437 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. grew its stake in Allot by 272.0% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider's stock worth $5,353,000 after acquiring an additional 457,726 shares in the last quarter. 51.50% of the stock is currently owned by institutional investors.

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.