Allot (NASDAQ:ALLT) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Allot shares moved above their 200-day moving average, trading as high as $8.68 before last trading around $8.43. The move came as the stock was still down about 1.7% on the day.
• Analyst sentiment is mixed but generally positive: five analysts rate Allot a Buy, one a Hold, and one a Sell. The consensus price target is $13.62, above the current share price.
• The company recently authorized a $40 million share buyback, which would allow repurchases of up to 11.7% of its stock. Recent insider sales and heavy institutional ownership were also highlighted, with institutions holding 51.5% of the shares.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.26 and traded as high as $8.68. Allot shares last traded at $8.43, with a volume of 267,969 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Needham & Company LLC boosted their target price on shares of Allot from $8.50 to $10.50 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Allot in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.62.

Allot Stock Down 1.7%

The business's fifty day moving average is $7.67 and its two-hundred day moving average is $8.26. The stock has a market capitalization of $410.12 million, a PE ratio of 64.85 and a beta of 1.46.

Allot (NASDAQ:ALLT - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The business had revenue of $26.43 million during the quarter. Sell-side analysts expect that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Allot announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Noam Lelah sold 21,000 shares of Allot stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the transaction, the senior vice president owned 176,250 shares in the company, valued at approximately $1,494,600. The trade was a 10.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Boaz Grossman sold 5,000 shares of Allot stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $7.37, for a total transaction of $36,850.00. Following the transaction, the senior vice president directly owned 192,000 shares of the company's stock, valued at $1,415,040. The trade was a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,556 shares of company stock valued at $374,464 in the last ninety days. Insiders own 3.40% of the company's stock.

Institutional Trading of Allot

Institutional investors have recently added to or reduced their stakes in the company. QVT Financial LP boosted its holdings in Allot by 12.4% during the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider's stock valued at $49,765,000 after acquiring an additional 556,730 shares during the period. Kanen Wealth Management LLC increased its stake in Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider's stock worth $30,994,000 after purchasing an additional 51,029 shares during the period. Renaissance Technologies LLC lifted its position in shares of Allot by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider's stock worth $11,009,000 after purchasing an additional 106,740 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Allot by 12.8% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider's stock worth $8,424,000 after purchasing an additional 97,348 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider's stock valued at $7,971,000 after purchasing an additional 531,412 shares during the period. Institutional investors own 51.50% of the company's stock.

Allot Company Profile

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot's product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.