Allot (NASDAQ:ALLT) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Allot Ltd. (NASDAQ:ALLT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.23 and traded as high as $8.90. Allot shares last traded at $8.59, with a volume of 175,887 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Finally, Needham & Company LLC upped their target price on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Five investment analysts have 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.62.

Allot Stock Performance

The business has a fifty day moving average of $7.80 and a two-hundred day moving average of $8.23. The firm has a market capitalization of $417.86 million, a price-to-earnings ratio of 66.08 and a beta of 1.46.

Allot (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The business had revenue of $26.43 million during the quarter. As a group, sell-side analysts predict that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Allot declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Allot

In other news, SVP Boaz Grossman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the sale, the senior vice president owned 192,000 shares in the company, valued at approximately $1,415,040. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Shteiman sold 6,000 shares of Allot 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 directly owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 47,556 shares of company stock worth $374,464. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Allot

Several institutional investors and hedge funds have recently made changes to their positions in ALLT. Quarry LP acquired a new position in shares of Allot in the third quarter valued at approximately $37,000. Kestra Advisory Services LLC acquired a new stake in Allot during the 4th quarter worth approximately $62,000. State of Wyoming acquired a new stake in Allot during the 4th quarter worth approximately $66,000. Wells Fargo & Company MN boosted its stake in Allot by 200.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 6,000 shares during the period. Finally, Invesco Ltd. bought a new stake in Allot in the 4th quarter valued at $112,000. Institutional investors and hedge funds 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.