Allot Communications Ltd. (NASDAQ:ALLT)’s share price was up 0.4% during mid-day trading on Tuesday . The company traded as high as $5.20 and last traded at $5.19, with a volume of 109,631 shares traded. The stock had previously closed at $5.17.
ALLT has been the subject of several recent research reports. Bank of America Corp. set a $5.00 price target on Allot Communications and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised Allot Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Barclays PLC decreased their price target on Allot Communications from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, July 7th.
The company has a 50 day moving average of $5.10 and a 200-day moving average of $5.01. The firm’s market capitalization is $172.32 million.
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Allot Communications (NASDAQ:ALLT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Allot Communications had a negative return on equity of 4.76% and a negative net margin of 20.37%. The firm earned $23 million during the quarter, compared to analyst estimates of $24.43 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Allot Communications Ltd. will post $0.01 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Spark Investment Management LLC raised its stake in shares of Allot Communications by 108.9% in the first quarter. Spark Investment Management LLC now owns 86,900 shares of the company’s stock valued at $454,000 after buying an additional 45,300 shares during the period. Granahan Investment Management Inc. MA raised its stake in shares of Allot Communications by 6.7% in the first quarter. Granahan Investment Management Inc. MA now owns 1,133,924 shares of the company’s stock valued at $5,930,000 after buying an additional 70,940 shares during the period. Renaissance Technologies LLC raised its stake in shares of Allot Communications by 39.8% in the first quarter. Renaissance Technologies LLC now owns 420,400 shares of the company’s stock valued at $2,199,000 after buying an additional 119,600 shares during the period. Prentiss Smith & Co. Inc. raised its stake in shares of Allot Communications by 2.2% in the second quarter. Prentiss Smith & Co. Inc. now owns 86,393 shares of the company’s stock valued at $425,000 after buying an additional 1,832 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Allot Communications during the second quarter valued at about $10,019,000. 45.93% of the stock is owned by hedge funds and other institutional investors.
About Allot Communications
Allot Communications Ltd. (Allot) is a global provider of broadband solutions. The Company is focused on developing mobile, fixed and enterprise networks to support the digital lifestyle. Its solutions are based on its deep packet inspection (DPI) technology, identify and leverage the business intelligence in data networks.
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