Allot (NASDAQ:ALLT) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Allot Ltd. shares have surpassed their 200-day moving average, with the stock trading as high as $7.76 during recent trading sessions.
• Wall Street analysts have upgraded Allot from a "hold" to a "buy" rating, signaling positive growth expectations for the company.
• Several hedge funds are increasing their stakes in Allot, with Kanen Wealth Management LLC boosting its position by 19.6% in the second quarter.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.30 and traded as high as $7.76. Allot shares last traded at $7.46, with a volume of 443,520 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Allot from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Allot Price Performance

The company has a market capitalization of $347.11 million, a PE ratio of -74.59 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.49 and a quick ratio of 2.27. The company's 50 day simple moving average is $8.43 and its 200 day simple moving average is $7.30.

Hedge Funds Weigh In On Allot

Several hedge funds have recently added to or reduced their stakes in the stock. Kanen Wealth Management LLC increased its stake in Allot by 19.6% in the second quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider's stock valued at $38,713,000 after purchasing an additional 742,146 shares during the last quarter. Acadian Asset Management LLC grew its stake in Allot by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider's stock worth $6,648,000 after buying an additional 86,437 shares during the last quarter. ARK Investment Management LLC grew its stake in Allot by 12.1% during the 2nd quarter. ARK Investment Management LLC now owns 278,560 shares of the communications equipment provider's stock worth $2,357,000 after buying an additional 30,070 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its stake in Allot by 38.1% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 146,172 shares of the communications equipment provider's stock worth $1,250,000 after buying an additional 40,300 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Allot during the 1st quarter worth approximately $452,000. 51.50% of the stock is currently owned by hedge funds and other 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.

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