Allot (NASDAQ:ALLT) Shares Pass Above 200-Day Moving Average – What’s Next?

Allot Ltd. (NASDAQ:ALLT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.37 and traded as high as $10.38. Allot shares last traded at $9.96, with a volume of 278,931 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cantor Fitzgerald began coverage on Allot in a report on Monday, January 12th. They set an “overweight” rating and a $15.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. TD Cowen initiated coverage on shares of Allot in a report on Monday, October 20th. They set a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Allot in a research report on Tuesday, January 20th. Finally, Zacks Research lowered shares of Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.63.

Allot Stock Performance

The firm has a fifty day simple moving average of $10.02 and a 200-day simple moving average of $9.37. The company has a market capitalization of $482.56 million, a PE ratio of 332.00 and a beta of 1.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC grew its position in Allot by 1.7% in the 3rd quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock valued at $48,624,000 after buying an additional 78,180 shares in the last quarter. QVT Financial LP increased its stake in shares of Allot by 22.2% during the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after acquiring an additional 817,938 shares during the period. G2 Investment Partners Management LLC bought a new stake in Allot during the second quarter worth approximately $14,175,000. Renaissance Technologies LLC lifted its position in Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after purchasing an additional 106,740 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Allot by 12.5% in the second quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock valued at $6,648,000 after buying an additional 86,437 shares during the period. Institutional investors and hedge funds own 51.50% of the company’s stock.

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.