Allot (NASDAQ:ALLT) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Allot Ltd. (NASDAQ:ALLT) passed above its 50-day moving average during trading on Friday. The stock has a 50-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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALLT shares. Northland Securities set a $17.00 price objective on Allot in a research report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

Allot Price Performance

The stock’s 50-day moving average is $8.36 and its two-hundred day moving average is $8.00. The company has a market cap of $422.01 million, a P/E ratio of 38.91 and a beta of 1.51.

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

Insider Activity

In other news, SVP Boaz Grossman sold 4,000 shares of the company’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 completion of the sale, the senior vice president owned 182,000 shares of the company’s stock, valued at approximately $1,419,600. This represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gili Groner sold 26,666 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total transaction of $209,594.76. Following the transaction, the insider owned 59,467 shares in the company, valued at approximately $467,410.62. This represents a 30.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 37,221 shares of company stock valued at $290,212. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Allot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. lifted its stake in shares of 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 buying an additional 461,175 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Allot during the first quarter valued at $1,208,000. Penbrook Management LLC grew its holdings in shares of Allot by 37.1% during the third quarter. Penbrook Management LLC now owns 377,395 shares of the communications equipment provider’s stock valued at $3,185,000 after buying an additional 102,100 shares during the last quarter. Kanen Wealth Management LLC increased 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 valued at $30,994,000 after acquiring an additional 51,029 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Allot in the 3rd quarter valued at $247,000. Institutional investors 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.