Shares of Allot Communications Ltd (NASDAQ:ALLT) hit a new 52-week high during trading on Thursday . The company traded as high as $6.49 and last traded at $6.41, with a volume of 2125 shares. The stock had previously closed at $6.39.

A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Allot Communications from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Thursday. Oppenheimer reiterated a “hold” rating on shares of Allot Communications in a research note on Thursday, August 9th. ValuEngine upgraded shares of Allot Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, Needham & Company LLC upgraded shares of Allot Communications from a “hold” rating to a “buy” rating and set a $6.35 price target for the company in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $6.68.

The company has a market capitalization of $210.38 million, a P/E ratio of -18.51 and a beta of 0.57.

Allot Communications (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Allot Communications had a negative net margin of 16.97% and a negative return on equity of 6.46%. The firm had revenue of $23.00 million during the quarter, compared to analyst estimates of $22.65 million. research analysts anticipate that Allot Communications Ltd will post -0.32 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Allot Communications during the second quarter valued at approximately $112,000. Jane Street Group LLC bought a new stake in Allot Communications during the second quarter valued at approximately $149,000. ETF Managers Group LLC bought a new stake in Allot Communications during the first quarter valued at approximately $169,000. Spark Investment Management LLC grew its position in Allot Communications by 375.9% during the first quarter. Spark Investment Management LLC now owns 51,400 shares of the communications equipment provider’s stock valued at $276,000 after buying an additional 40,600 shares during the period. Finally, Deutsche Bank AG grew its position in Allot Communications by 635.4% during the fourth quarter. Deutsche Bank AG now owns 84,553 shares of the communications equipment provider’s stock valued at $450,000 after buying an additional 73,055 shares during the period. Hedge funds and other institutional investors own 54.65% of the company’s stock.

Allot Communications Company Profile (NASDAQ:ALLT)

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.

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