Short Interest in Allot Ltd. (NASDAQ:ALLT) Grows By 62.7%

Key Points

• Short interest in Allot Ltd. increased by 62.7% in July, with total short interest reaching 951,900 shares as of July 31st.
• Wall Street Zen upgraded Allot from a "buy" rating to a "strong-buy" rating, indicating positive sentiment among analysts.
• Allot reported a positive earnings surprise with an EPS of ($0.01), exceeding estimates, and achieved revenue of $24.05 million for the quarter.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 951,900 shares, agrowthof62.7% from the July 15th total of 585,100 shares. Based on an average trading volume of 654,100 shares, the days-to-cover ratio is presently 1.5 days. Approximately3.0% of the shares of the company are sold short. Approximately3.0% of the shares of the company are sold short. Based on an average trading volume of 654,100 shares, the days-to-cover ratio is presently 1.5 days.

Allot Stock Performance

Shares of NASDAQ ALLT traded up $0.37 during trading hours on Friday, reaching $7.79. 622,780 shares of the stock were exchanged, compared to its average volume of 503,176. The firm has a market capitalization of $362.47 million, a price-to-earnings ratio of -155.80 and a beta of 1.32. Allot has a 52 week low of $2.75 and a 52 week high of $10.77. The stock's fifty day simple moving average is $8.22 and its 200 day simple moving average is $7.25.

Allot (NASDAQ:ALLT - Get Free Report) last announced its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share 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 analyst estimates of $22.90 million. Allot had a positive return on equity of 0.94% and a negative net margin of 2.12%. Research analysts predict that Allot will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Allot

A number of large investors have recently made changes to their positions in ALLT. G2 Investment Partners Management LLC bought a new position in shares of Allot during the second quarter worth approximately $14,175,000. QVT Financial LP boosted its stake in shares of Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider's stock valued at $36,598,000 after buying an additional 817,938 shares during the period. Kanen Wealth Management LLC boosted its stake 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 buying an additional 742,146 shares during the period. Greenhaven Road Investment Management L.P. boosted its stake in shares of Allot by 272.0% in the second 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 buying an additional 457,726 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Allot in the second quarter valued at approximately $3,164,000. Institutional investors own 51.50% of the company's stock.

Wall Street Analyst Weigh In

ALLT has been the subject of several research analyst reports. William Blair initiated coverage on Allot in a research note on Thursday. They set an "outperform" rating for the company. Wall Street Zen upgraded Allot from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy".

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.