Allot (NASDAQ:ALLT) Stock Crosses Above 200-Day Moving Average – Should You Sell?
by Scott Moore · The Cerbat GemAllot Ltd. (NASDAQ:ALLT – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.00 and traded as high as $9.95. Allot shares last traded at $9.74, with a volume of 434,979 shares traded.
Analysts Set New Price Targets
ALLT has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $12.50 target price on shares of Allot in a research note on Friday, November 21st. TD Cowen started coverage on Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 price objective for the company. Cowen initiated coverage on shares of Allot in a research note on Monday, October 20th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Allot from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.75.
Check Out Our Latest Report on Allot
Allot Stock Up 0.9%
The stock has a market capitalization of $476.26 million, a price-to-earnings ratio of 327.67 and a beta of 1.53. The stock has a fifty day moving average of $9.38 and a 200-day moving average of $9.01.
Institutional Investors Weigh In On Allot
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Worth Venture Partners LLC lifted its position in Allot by 4.6% in the third quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after acquiring an additional 1,946 shares during the last quarter. Magnetar Financial LLC lifted its holdings in shares of Allot by 10.8% in the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock valued at $237,000 after purchasing an additional 2,192 shares during the last quarter. Quarry LP acquired a new stake in shares of Allot in the 3rd quarter valued at about $37,000. FNY Investment Advisers LLC grew its stake in Allot by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock worth $119,000 after buying an additional 3,500 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in Allot by 27.8% during the 3rd quarter. Verition Fund Management LLC now owns 40,110 shares of the communications equipment provider’s stock worth $424,000 after buying an additional 8,736 shares during the last quarter. 51.50% of the stock is currently owned by institutional investors and hedge funds.
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.