Allot Communications Ltd (NASDAQ:ALLT – Get Rating) was the target of a sharp drop in short-term interest in March. As of March 31, there was short interest totaling 261,300 shares, down 44.9% from the March 15 total of 474,400 shares. Based on an average daily trading volume of 393,000 shares, the day-to-cover ratio is currently 0.7 days. Currently, 0.8% of the company’s shares are sold short.
ALLT opened at $7.06 on Friday. Allot Communications has a 12-month low of $6.29 and a 12-month high of $21.04. The company has a market capitalization of $257.63 million, a P/E ratio of -17.22 and a beta of 0.82. The company has a 50-day moving average price of $8.10 and a 200-day moving average price of $10.91.
Allot Communications (NASDAQ:ALLT – Get Rating) last released its quarterly results on Tuesday, February 15. The communications equipment provider reported ($0.10) EPS for the quarter, beating analyst consensus estimates of ($0.14) by $0.04. Allot Communications had a negative return on equity of 10.67% and a negative net margin of 10.33%. The company posted revenue of $40.97 million in the quarter, compared to analyst estimates of $40.90 million. During the same period of the previous year, the company made ($0.04) earnings per share. On average, research analysts expect Allot Communications to post an EPS of -0.86 for the current year.
Hedge funds have recently changed their holdings in the company. Cowen Prime Advisors LLC increased its equity stake in Allot Communications by 71.6% during the fourth quarter. Cowen Prime Advisors LLC now owns 26,775 shares of the communications equipment provider worth $318,000 after buying an additional 11,175 shares in the last quarter. B. Riley Asset Management LLC acquired a new position in Allot Communications stock during the fourth quarter worth approximately $950,000. Hennion & Walsh Asset Management Inc. increased its equity stake in Allot Communications by 4.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 89,095 shares of the communications equipment provider worth $1,324,000 after buying 3,414 additional shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in Allot Communications shares by 3.1% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,327,853 shares of the communications equipment provider worth $27,655,000 after buying an additional 70,000 shares in the last quarter. Institutional investors hold 83.83% of the company’s shares.
Several brokerages have recently commented on ALLT. Lake Street Capital lowered its price target on Allot Communications from $16.00 to $13.00 in a Wednesday, February 16 research note. Zacks Investment Research upgraded Allot Communications from a “hold” to a “sell” rating in a Monday, Feb. 21 research note. StockNews.com launched coverage on Allot Communications in a Thursday, March 31 report. They issued a “holding” rating for the company. Needham & Company LLC reduced its target price on Allot Communications from $22.00 to $16.00 and set a “buy” rating for the company in a Wednesday, February 16 report. Finally, Bank of America downgraded Allot Communications from a “neutral” rating to an “underperforming” rating and reduced its target price for the stock from $14.00 to $10.00 in a Thursday 17 report. february. Two analysts have assigned the stock a sell rating, one has issued a hold rating and three have assigned the company’s stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.80.
Allot Communications Company Profile (Get an assessment)
Allot Communications Ltd. is a provider of innovative network intelligence and security solutions for service providers around the world, enhancing value for their customers. Their solutions are deployed worldwide for network and application analysis, traffic control and shaping, network-based security services, and more.
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