Allot (NASDAQ:ALLT) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Allot Ltd. (NASDAQ:ALLT) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.26 and traded as high as $8.68. Allot shares last traded at $8.43, with a volume of 267,969 shares changing hands.

Wall Street Analyst Weigh In

ALLT has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Needham & Company LLC lifted their price target on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.62.

Allot Trading Down 1.7%

The firm’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $8.26. The stock has a market cap of $410.12 million, a PE ratio of 64.85 and a beta of 1.46.

Allot (NASDAQ:ALLT) last issued its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. The company had revenue of $26.43 million during the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. On average, analysts anticipate that Allot Ltd. will post 0.21 earnings per share for the current year.

Allot declared that its board has approved a stock buyback program on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Mark Shteiman sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $7.58, for a total transaction of $45,480.00. Following the sale, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Noam Lelah sold 21,000 shares of Allot stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the transaction, the senior vice president owned 176,250 shares in the company, valued at $1,494,600. This trade represents a 10.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 47,556 shares of company stock worth $374,464 in the last three months. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. QVT Financial LP boosted its position in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after purchasing an additional 556,730 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its position in Allot by 12.8% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after buying an additional 97,348 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in Allot in the fourth quarter valued at about $3,483,000. Riverwater Partners LLC acquired a new stake in Allot in the fourth quarter worth about $1,658,000. Finally, Sei Investments Co. boosted its holdings in Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after acquiring an additional 461,175 shares in the last quarter. Institutional investors own 51.50% of the company’s stock.

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.