Allot Ltd. (NASDAQ:ALLT) Short Interest Down 14.1% in January

Allot Ltd. (NASDAQ:ALLT) was the target of a large decline in short interest in 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 company’s stock are short sold. Based on an average daily volume of 503,829 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 503,829 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.7% of the company’s stock are short sold.

Allot Stock Performance

ALLT stock opened at $9.79 on Wednesday. The stock has a fifty day moving average of $9.96 and a 200-day moving average of $9.29. Allot has a fifty-two week low of $4.37 and a fifty-two week high of $11.92. The company has a market capitalization of $474.33 million, a price-to-earnings ratio of 326.33 and a beta of 1.57.

Institutional Investors Weigh In On Allot

A number of hedge funds have recently made changes to their positions in the business. Greenhaven Road Investment Management L.P. increased its holdings in shares of Allot by 272.0% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after purchasing an additional 457,726 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in Allot in the 2nd quarter worth about $14,175,000. Calamos Advisors LLC bought a new stake in Allot in the 2nd quarter worth about $254,000. Acadian Asset Management LLC raised its position in Allot by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock worth $6,648,000 after buying an additional 86,437 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new position in Allot during the 2nd quarter valued at about $359,000. 51.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALLT shares. Citigroup reissued an “outperform” rating on shares of Allot in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a report on Wednesday, January 21st. Northland Securities set a $18.00 price objective on Allot in a research note on Tuesday, January 6th. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Cantor Fitzgerald assumed coverage on shares of Allot in a report on Monday, January 12th. They issued an “overweight” rating and a $15.00 target price for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.63.

About Allot

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.