Allot (NASDAQ:ALLT) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Allot (NASDAQ: ALLT) reported a quarterly earnings per share of ($0.01), surpassing analysts' expectations of ($0.02) by $0.01.
• The company's stock decreased by $0.72 to $7.23 during trading hours, with a market capitalization of $336.41 million.
• Institutional investors hold 51.50% of Allot's stock, with several large firms making new investments in the company during the second quarter.

Allot (NASDAQ:ALLT - Get Free Report) released its quarterly earnings results on Thursday. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01, Zacks reports. The business had revenue of $24.05 million during the quarter, compared to the consensus estimate of $22.90 million. Allot had a positive return on equity of 1.18% and a negative net margin of 2.12%.

Allot Price Performance

ALLT stock traded down $0.2350 during midday trading on Tuesday, hitting $7.2250. The company's stock had a trading volume of 195,403 shares, compared to its average volume of 689,574. Allot has a 12 month low of $2.75 and a 12 month high of $10.77. The company has a quick ratio of 2.27, a current ratio of 2.49 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $336.18 million, a price-to-earnings ratio of -144.50 and a beta of 1.32. The company has a 50 day moving average of $8.30 and a two-hundred day moving average of $7.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Allot from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Institutional Trading of Allot

Several hedge funds have recently modified their holdings of ALLT. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Allot during the 2nd quarter worth approximately $156,000. Walleye Capital LLC purchased a new stake in shares of Allot during the 2nd quarter worth approximately $256,000. Russell Investments Group Ltd. purchased a new stake in shares of Allot during the 2nd quarter worth approximately $350,000. Engineers Gate Manager LP raised its holdings in shares of Allot by 61.5% during the 2nd quarter. Engineers Gate Manager LP now owns 62,010 shares of the communications equipment provider's stock worth $530,000 after acquiring an additional 23,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Allot by 122.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 163,412 shares of the communications equipment provider's stock worth $1,397,000 after acquiring an additional 89,954 shares in the last quarter. 51.50% of the stock is owned by hedge funds and other institutional investors.

Allot Company Profile

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.