Allot (NASDAQ:ALLT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Allot Ltd. (NASDAQ:ALLT)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALLT shares. TD Cowen began coverage on Allot in a report on Monday, October 20th. They set a “buy” rating on the stock. Cantor Fitzgerald assumed coverage on Allot in a research note on Monday, January 12th. They set an “overweight” rating and a $15.00 price target on the stock. Zacks Research lowered shares of Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Needham & Company LLC reiterated a “buy” rating and set a $12.50 target price on shares of Allot in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.63.

Allot Stock Performance

The business has a 50 day moving average of $10.03 and a two-hundred day moving average of $9.38. The stock has a market capitalization of $497.10 million, a PE ratio of 342.00 and a beta of 1.57.

Institutional Investors Weigh In On Allot

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greenhaven Road Investment Management L.P. increased its stake in Allot by 272.0% during the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock valued at $5,353,000 after purchasing an additional 457,726 shares in the last quarter. G2 Investment Partners Management LLC acquired a new position in shares of Allot in the 2nd quarter valued at $14,175,000. Calamos Advisors LLC purchased a new position in Allot in the 2nd quarter worth $254,000. Acadian Asset Management LLC lifted its position in Allot by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock worth $6,648,000 after acquiring an additional 86,437 shares during the period. Finally, US Bancorp DE lifted its position in Allot by 17.6% during the 2nd quarter. US Bancorp DE now owns 67,835 shares of the communications equipment provider’s stock worth $580,000 after acquiring an additional 10,139 shares during the period. Hedge funds and other institutional investors 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.