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

Allot Ltd. (NASDAQ:ALLT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.03 and traded as high as $10.50. Allot shares last traded at $9.60, with a volume of 384,040 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALLT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. William Blair began coverage on Allot in a research note on Thursday, August 21st. They issued an “outperform” rating on the stock. Zacks Research lowered shares of Allot from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, Wall Street Zen downgraded shares of Allot from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Allot Price Performance

The company has a 50-day moving average of $9.03 and a 200 day moving average of $8.03. The company has a market cap of $446.69 million, a PE ratio of -192.00 and a beta of 1.45.

Allot (NASDAQ:ALLT) last announced its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $22.90 million. Equities research analysts expect that Allot Ltd. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Allot

A number of large investors have recently made changes to their positions in the business. LeConte Wealth Management LLC purchased a new stake in shares of Allot during the third quarter valued at $128,000. FNY Investment Advisers LLC boosted its holdings in Allot by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 3,500 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Allot in the second quarter valued at $139,000. Arrowstreet Capital Limited Partnership purchased a new stake in Allot in the second quarter valued at $156,000. Finally, Magnetar Financial LLC purchased a new stake in Allot in the second quarter valued at $173,000. 51.50% of the stock is owned by institutional investors and hedge funds.

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.