Allot (NASDAQ:ALLT) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Allot (NASDAQ:ALLT) from a strong-buy rating to a buy rating in a research note published on Sunday.

Separately, William Blair began coverage on Allot in a research note on Thursday, August 21st. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Allot presently has a consensus rating of “Buy”.

Allot Stock Performance

NASDAQ:ALLT opened at $7.89 on Friday. Allot has a 52-week low of $2.75 and a 52-week high of $10.77. The firm has a market cap of $367.12 million, a price-to-earnings ratio of -157.80 and a beta of 1.32. The business’s fifty day moving average is $8.20 and its 200 day moving average is $7.23.

Allot (NASDAQ:ALLT) last released its quarterly earnings data on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Allot had a positive return on equity of 0.94% and a negative net margin of 2.12%.The company had revenue of $24.05 million for the quarter, compared to analyst estimates of $22.90 million. Equities analysts predict that Allot will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Allot

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC increased its position in shares of Allot by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 3,500 shares during the last quarter. DCF Advisers LLC bought a new position in Allot during the 1st quarter worth approximately $138,000. OMERS ADMINISTRATION Corp bought a new position in Allot during the 2nd quarter worth approximately $139,000. Arrowstreet Capital Limited Partnership bought a new position in Allot during the 2nd quarter worth approximately $156,000. Finally, Magnetar Financial LLC bought a new position in Allot during the 2nd quarter worth approximately $173,000. 51.50% of the stock is currently owned by institutional investors.

About Allot

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.