Allot (NASDAQ:ALLT) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Allot Ltd. (NASDAQ:ALLT)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.60 and traded as high as $8.72. Allot shares last traded at $8.4620, with a volume of 227,695 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALLT. Northland Securities set a $17.00 target price on Allot in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research report on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

Allot Price Performance

The firm has a market cap of $416.34 million, a PE ratio of 38.43 and a beta of 1.48. The stock’s fifty day moving average price is $7.85 and its 200-day moving average price is $7.62.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. On average, sell-side analysts anticipate that Allot Ltd. will post 0.23 earnings per share for the current fiscal year.

Allot announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Boaz Grossman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $7.45, for a total value of $44,700.00. Following the sale, the senior vice president directly owned 186,000 shares of the company’s stock, valued at approximately $1,385,700. The trade was a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gili Groner sold 26,666 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total transaction of $209,594.76. Following the transaction, the insider directly owned 59,467 shares of the company’s stock, valued at $467,410.62. The trade was a 30.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 66,333 shares of company stock valued at $512,240 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALLT. QVT Financial LP boosted its position in Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after buying an additional 556,730 shares during the period. Sei Investments Co. boosted its holdings in Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after purchasing an additional 461,175 shares during the period. Potomac Capital Management Inc. acquired a new position in Allot during the 4th quarter worth $3,483,000. Lazard Asset Management LLC acquired a new stake in Allot in the 1st quarter valued at about $1,208,000. Finally, Riverwater Partners LLC purchased a new position in shares of Allot in the 4th quarter valued at about $1,658,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

Allot Company Profile

Allot Ltd., formerly known as Allot Communications, develops network intelligence, traffic management and cybersecurity solutions for communications service providers. Its technologies help telecommunications operators monitor and analyze network traffic, optimize performance, manage bandwidth and support the delivery of digital services.

The company’s product portfolio has included solutions for network visibility, subscriber and application analytics, broadband traffic management, policy enforcement, parental controls and network security.