Allot (NASDAQ:ALLT) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

Allot Ltd. (NASDAQ:ALLT)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $8.36 and traded as high as $8.61. Allot shares last traded at $8.56, with a volume of 239,685 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALLT. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a report on Tuesday, September 22nd. Northland Securities set a $17.00 target price on Allot in a report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allot currently has an average rating of “Moderate Buy” and an average price target of $13.38.

Allot Trading Up 4.6%

The stock’s 50 day moving average is $8.36 and its two-hundred day moving average is $8.00. The stock has a market capitalization of $422.01 million, a price-to-earnings ratio of 38.91 and a beta of 1.51.

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

Insider Activity at Allot

In other news, insider Gili Groner sold 26,666 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total transaction of $209,594.76. Following the completion of the transaction, the insider directly owned 59,467 shares of the company’s stock, valued at approximately $467,410.62. This represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Boaz Grossman sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $7.80, for a total value of $31,200.00. Following the transaction, the senior vice president owned 182,000 shares of the company’s stock, valued at approximately $1,419,600. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,221 shares of company stock valued at $290,212 over the last three months. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allot

A number of large investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after purchasing an additional 461,175 shares during the period. Lazard Asset Management LLC purchased a new position in Allot in the first quarter valued at approximately $1,208,000. Penbrook Management LLC lifted its holdings in shares of Allot by 37.1% in the 3rd quarter. Penbrook Management LLC now owns 377,395 shares of the communications equipment provider’s stock worth $3,185,000 after acquiring an additional 102,100 shares during the last quarter. Kanen Wealth Management LLC raised its position in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Allot in the third quarter worth about $247,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

About Allot

Allot Ltd. is an Israeli technology company that develops network intelligence and security solutions for communications service providers. Its software and hardware are designed to help telecommunications operators monitor network traffic, manage bandwidth, improve service quality and protect infrastructure from cyber threats.

The company’s offerings have included network visibility and analytics tools, traffic management platforms, distributed denial-of-service protection, and security services for mobile, fixed-line and broadband networks.