Allot Communications Ltd (NASDAQ:ALLT) Short Interest Update

Allot Communications Ltd (NASDAQ:ALLT – Get Rating) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 261,300 shares, a decline of 44.9% from the March 15th total of 474,400 shares. Based on an average daily trading volume, of 393,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.8% of the company’s stock are short sold.

ALLT opened at $7.06 on Friday. Allot Communications has a twelve month low of $6.29 and a twelve month high of $21.04. The firm has a market cap of $257.63 million, a P/E ratio of -17.22 and a beta of 0.82. The business has a 50 day moving average price of $8.10 and a 200 day moving average price of $10.91.

Allot Communications (NASDAQ:ALLT – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The communications equipment provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. Allot Communications had a negative return on equity of 10.67% and a negative net margin of 10.33%. The company had revenue of $40.97 million during the quarter, compared to analyst estimates of $40.90 million. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, research analysts expect that Allot Communications will post -0.86 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Cowen Prime Advisors LLC lifted its holdings in shares of Allot Communications by 71.6% during the fourth quarter. Cowen Prime Advisors LLC now owns 26,775 shares of the communications equipment provider’s stock worth $318,000 after buying an additional 11,175 shares during the last quarter. B. Riley Asset Management LLC acquired a new position in shares of Allot Communications during the fourth quarter worth approximately $950,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Allot Communications by 4.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 89,095 shares of the communications equipment provider’s stock worth $1,324,000 after buying an additional 3,414 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Allot Communications by 3.1% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,327,853 shares of the communications equipment provider’s stock worth $27,655,000 after buying an additional 70,000 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Several brokerages recently commented on ALLT. Lake Street Capital lowered their price target on Allot Communications from $16.00 to $13.00 in a research note on Wednesday, February 16th. Zacks Investment Research cut Allot Communications from a “hold” rating to a “sell” rating in a research note on Monday, February 21st. StockNews.com initiated coverage on Allot Communications in a report on Thursday, March 31st. They issued a “hold” rating for the company. Needham & Company LLC reduced their target price on Allot Communications from $22.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. Finally, Bank of America lowered Allot Communications from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $14.00 to $10.00 in a report on Thursday, February 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.80.

Allot Communications Company Profile (Get Rating)

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.

Read More