Allot Ltd. (NASDAQ:ALLT) Sees Significant Decrease in Short Interest

Allot Ltd. (NASDAQ:ALLT) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 1,281,948 shares, a decline of 14.1% from the December 31st total of 1,492,864 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 503,829 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 503,829 shares, the short-interest ratio is presently 2.5 days. Approximately 2.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALLT shares. TD Cowen began coverage on Allot in a research note on Monday, October 20th. They issued a “buy” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $12.50 price target on shares of Allot in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Cantor Fitzgerald initiated coverage on shares of Allot in a report on Monday, January 12th. They issued an “overweight” rating and a $15.00 price objective on the stock. Finally, Citigroup restated an “outperform” rating on shares of Allot in a research report on Tuesday, January 6th. Five 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. According to MarketBeat.com, Allot has a consensus rating of “Moderate Buy” and a consensus price target of $14.63.

Hedge Funds Weigh In On Allot

A number of hedge funds have recently modified their holdings of ALLT. Worth Venture Partners LLC raised its position in shares of Allot by 4.6% during the 3rd quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after purchasing an additional 1,946 shares during the period. Magnetar Financial LLC increased its stake in Allot by 10.8% in the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 2,192 shares in the last quarter. Quarry LP purchased a new stake in Allot in the 3rd quarter worth $37,000. FNY Investment Advisers LLC raised its holdings in Allot by 33.3% during the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after acquiring an additional 3,500 shares during the period. Finally, Silverberg Bernstein Capital Management LLC lifted its position in shares of Allot by 2.7% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 165,428 shares of the communications equipment provider’s stock valued at $1,626,000 after acquiring an additional 4,300 shares in the last quarter. 51.50% of the stock is currently owned by institutional investors.

Allot Stock Down 3.3%

ALLT stock opened at $9.47 on Thursday. The business’s 50-day moving average price is $9.96 and its 200-day moving average price is $9.29. The stock has a market cap of $458.82 million, a P/E ratio of 315.67 and a beta of 1.57. Allot has a twelve month low of $4.37 and a twelve month high of $11.92.

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.