Zacks Investment Research Lowers Allot Communications (NASDAQ:ALLT) to Hold

Allot Communications (NASDAQ:ALLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Allot Ltd. is a provider of network intelligence and security solutions for service providers and enterprises. Allot Ltd., formerly known as ALLOT COMM LTD, is based in HOD HASHARON, Israel. “

Shares of NASDAQ ALLT opened at $14.32 on Tuesday. Allot Communications has a 12 month low of $9.02 and a 12 month high of $21.04. The firm has a market capitalization of $506.68 million, a PE ratio of -42.12 and a beta of 0.60. The firm has a fifty day simple moving average of $15.82 and a two-hundred day simple moving average of $17.48.

Allot Communications (NASDAQ:ALLT) last issued its quarterly earnings data on Monday, August 9th. The communications equipment provider reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. Allot Communications had a negative net margin of 8.56% and a negative return on equity of 8.72%. The business had revenue of $35.29 million during the quarter. Research analysts expect that Allot Communications will post -0.2 EPS for the current year.

A hedge fund recently bought a new stake in Allot Communications stock. Cowen Prime Advisors LLC purchased a new position in Allot Communications Ltd (NASDAQ:ALLT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,600 shares of the communications equipment provider’s stock, valued at approximately $309,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

About Allot Communications

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.

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