Allot Ltd. (NASDAQ:ALLT) Sees Large Decrease in Short Interest

Allot Ltd. (NASDAQ:ALLT) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 1,281,948 shares, a drop of 14.1% from the December 31st total of 1,492,864 shares. Based on an average daily volume of 503,829 shares, the short-interest ratio is currently 2.5 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 503,829 shares, the short-interest ratio is currently 2.5 days.

Institutional Investors Weigh In On Allot

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLT. Quarry LP acquired a new position in Allot during the third quarter worth about $37,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Allot during the 3rd quarter valued at approximately $108,000. FNY Investment Advisers LLC grew its holdings in shares of Allot by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 3,500 shares during the last quarter. LeConte Wealth Management LLC acquired a new position in Allot during the 3rd quarter worth approximately $128,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Allot in the 2nd quarter valued at approximately $139,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Allot Stock Performance

NASDAQ:ALLT opened at $9.90 on Tuesday. Allot has a 52 week low of $4.37 and a 52 week high of $11.92. The firm’s 50-day simple moving average is $9.95 and its 200 day simple moving average is $9.27. The firm has a market cap of $479.68 million, a price-to-earnings ratio of 330.00 and a beta of 1.52.

Wall Street Analysts Forecast Growth

ALLT has been the subject of a number of recent analyst reports. Zacks Research cut Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. TD Cowen assumed coverage on shares of Allot in a research report on Monday, October 20th. They set a “buy” rating for the company. Citigroup reiterated an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. Finally, Cantor Fitzgerald started coverage on shares of Allot in a research note on Monday, January 12th. They set an “overweight” rating and a $15.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.63.

About Allot

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.