Zacks Investment Research cut shares of Allot Communications Ltd. (NASDAQ:ALLT) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Allot Communications Ltd. is a leading provider of intelligent IP service optimization solutions. Designed for carriers, service providers and enterprises, Allot solutions apply deep packet inspection technology to transform broadband pipes into smart networks. This creates the visibility and control vital to manage applications, services and subscribers, guarantee quality of service, contain operating costs and maximize revenue. Allot believes in listening to customers and provides them access to its global network of visionaries, innovators and support engineers. “

A number of other brokerages have also recently issued reports on ALLT. Oppenheimer Holdings, Inc. restated a hold rating on shares of Allot Communications in a report on Tuesday, August 1st. ValuEngine cut shares of Allot Communications from a hold rating to a sell rating in a report on Thursday, May 18th.

Shares of Allot Communications (NASDAQ:ALLT) opened at 4.86 on Tuesday. The company has a 50 day moving average of $5.05 and a 200 day moving average of $4.91. The stock’s market cap is $161.35 million. Allot Communications has a 12 month low of $4.50 and a 12 month high of $5.67.

Allot Communications (NASDAQ:ALLT) last issued its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $19.52 million during the quarter, compared to analysts’ expectations of $19.20 million. Allot Communications had a negative net margin of 14.06% and a negative return on equity of 5.88%. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. Equities research analysts expect that Allot Communications will post ($0.24) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Horrell Capital Management Inc. raised its position in shares of Allot Communications by 64.3% in the second quarter. Horrell Capital Management Inc. now owns 271,100 shares of the communications equipment provider’s stock worth $1,385,000 after buying an additional 106,100 shares during the last quarter. Prentiss Smith & Co. Inc. raised its position in shares of Allot Communications by 6.8% in the second quarter. Prentiss Smith & Co. Inc. now owns 81,059 shares of the communications equipment provider’s stock worth $414,000 after buying an additional 5,158 shares during the last quarter. Soros Fund Management LLC raised its position in shares of Allot Communications by 2.4% in the first quarter. Soros Fund Management LLC now owns 3,406,666 shares of the communications equipment provider’s stock worth $16,216,000 after buying an additional 80,500 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Allot Communications by 1.3% in the first quarter. Renaissance Technologies LLC now owns 681,100 shares of the communications equipment provider’s stock worth $3,242,000 after buying an additional 8,600 shares during the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Allot Communications by 55.9% in the first quarter. Spark Investment Management LLC now owns 84,500 shares of the communications equipment provider’s stock worth $402,000 after buying an additional 30,300 shares during the last quarter. Hedge funds and other institutional investors own 42.25% of the company’s stock.

Allot Communications Company Profile

Allot Communications Ltd. (Allot) is a global provider of security and monetization solutions that enable mobile, fixed and enterprise service providers to protect and personalize the digital experience. The Company has a global and diverse customer base composed of mobile and fixed broadband service providers, cable operators, private networks, data centers, governments and enterprises, such as financial and educational institutions.

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