Allot (NASDAQ:ALLT) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Allot Ltd. (NASDAQ:ALLT) shares surpassed their 200-day moving average of $7.25, trading at $8.47 on Friday, with 316,909 shares exchanged during the session.
• Analyst ratings have shifted, with Zacks upgrading Allot to a "strong-buy" while Wall Street Zen lowered their rating to "buy", resulting in a current consensus rating of "Strong Buy."
• The company reported a negative net margin of 2.12% but achieved a positive return on equity of 0.94%, with quarterly revenue of $24.05 million exceeding expectations.

Shares of Allot Ltd. (NASDAQ:ALLT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.25 and traded as high as $8.56. Allot shares last traded at $8.47, with a volume of 316,909 shares trading hands.

Wall Street Analysts Forecast Growth

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

Allot Stock Up 8.8%

The firm has a 50 day moving average of $8.14 and a 200 day moving average of $7.30. The firm has a market cap of $436.92 million, a price-to-earnings ratio of -187.80 and a beta of 1.43.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Kanen Wealth Management LLC lifted its holdings in shares of 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 in the last quarter. QVT Financial LP lifted its holdings in Allot by 22.2% during the second 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 during the period. G2 Investment Partners Management LLC bought a new stake in Allot during the second quarter worth $14,175,000. Acadian Asset Management LLC lifted its holdings in Allot by 12.5% during the second 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 during the period. Finally, Greenhaven Road Investment Management L.P. lifted its holdings in Allot by 272.0% during the second 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 during the period. 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.