Allot (NASDAQ:ALLT) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Allot Ltd. stock recently surpassed its 200-day moving average, trading at $10.96 after reaching a high of $11.09.
• Analysts have shown mixed sentiments, with ratings shifting from "strong-buy" to "buy" and even a "sell" rating from Weiss Ratings, resulting in an average rating of "Hold".
• For Q2, Allot reported earnings of ($0.01) per share and revenues of $24.05 million, exceeding initial forecasts.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.87 and traded as high as $11.09. Allot shares last traded at $10.96, with a volume of 374,179 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALLT shares. Wall Street Zen lowered Allot from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 24th. William Blair started coverage on Allot in a research note on Thursday, August 21st. They set an "outperform" rating for the company. Zacks Research lowered Allot from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Allot in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold".

Allot Stock Up 1.9%

The company has a market cap of $509.97 million, a PE ratio of -219.20 and a beta of 1.45. The business has a 50-day simple moving average of $8.73 and a 200-day simple moving average of $7.87.

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

Hedge Funds Weigh In On Allot

A number of hedge funds have recently bought and sold shares of the business. Silverberg Bernstein Capital Management LLC boosted its position in Allot by 10.2% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 161,128 shares of the communications equipment provider's stock worth $1,705,000 after purchasing an additional 14,956 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Allot by 56.6% in the 2nd quarter. Osaic Holdings Inc. now owns 38,567 shares of the communications equipment provider's stock worth $330,000 after buying an additional 13,934 shares during the last quarter. G2 Investment Partners Management LLC acquired a new stake in Allot in the 2nd quarter worth about $14,175,000. Engineers Gate Manager LP boosted its holdings in Allot by 61.5% in the 2nd quarter. Engineers Gate Manager LP now owns 62,010 shares of the communications equipment provider's stock worth $530,000 after buying an additional 23,614 shares during the last quarter. Finally, Bluefin Capital Management LLC acquired a new stake in Allot in the 2nd quarter worth about $907,000. Hedge funds and other institutional investors own 51.50% of the company's stock.

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.

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