Allot (NASDAQ:ALLT) Upgraded at Wall Street Zen

Key Points

• Allot has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• The company reported earnings of ($0.01) per share, exceeding analysts' expectations and generating $24.05 million in revenue for the quarter.
• Institutional investors have shown significant interest in Allot, with 51.50% of the stock currently held by these investors and hedge funds.

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

Allot Trading Down 0.3%

Shares of ALLT traded down $0.02 during trading hours on Friday, reaching $7.26. 335,553 shares of the stock traded hands, compared to its average volume of 497,605. Allot has a 52-week low of $2.75 and a 52-week high of $10.77. The company's 50-day moving average price is $8.25 and its two-hundred day moving average price is $7.27. The company has a market cap of $337.81 million, a P/E ratio of -145.20 and a beta of 1.32.

Allot (NASDAQ:ALLT - Get Free Report) last released its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating 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 company had revenue of $24.05 million for the quarter, compared to analysts' expectations of $22.90 million. On average, research analysts forecast that Allot will post -0.18 EPS for the current year.

Institutional Trading of Allot

A number of institutional investors and hedge funds have recently bought and sold shares of ALLT. G2 Investment Partners Management LLC bought a new stake in Allot in the 2nd quarter valued at $14,175,000. QVT Financial LP increased its holdings 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 valued at $36,598,000 after acquiring an additional 817,938 shares during the last quarter. Kanen Wealth Management LLC increased its holdings 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 valued at $38,713,000 after acquiring an additional 742,146 shares during the last quarter. Greenhaven Road Investment Management L.P. increased its holdings 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 valued at $5,353,000 after acquiring an additional 457,726 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Allot in the 2nd quarter valued at $3,164,000. 51.50% of the stock is currently owned by 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.