Allot (NASDAQ:ALLT) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Allot (NASDAQ:ALLT) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

ALLT has been the subject of several other reports. Cantor Fitzgerald began coverage on Allot in a research note on Monday, January 12th. They issued an “overweight” rating and a $15.00 price objective for the company. Northland Securities set a $18.00 price target on shares of Allot in a research report on Tuesday, January 6th. TD Cowen initiated coverage on shares of Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $12.50 price objective on shares of Allot in a research note on Tuesday. Finally, Cowen initiated coverage on shares of Allot in a research note on Monday, October 20th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Allot has an average rating of “Moderate Buy” and an average target price of $14.63.

Allot Stock Down 1.4%

ALLT opened at $10.31 on Monday. The stock has a fifty day moving average of $9.70 and a 200-day moving average of $9.21. The firm has a market capitalization of $499.52 million, a P/E ratio of 343.67 and a beta of 1.52. Allot has a 12-month low of $4.37 and a 12-month high of $11.92.

Institutional Trading of Allot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. G2 Investment Partners Management LLC acquired a new stake in shares of Allot in the second quarter worth $14,175,000. QVT Financial LP boosted its holdings in Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after purchasing an additional 817,938 shares during the period. Millennium Management LLC grew its position in Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after purchasing an additional 531,412 shares during the last quarter. Greenhaven Road Investment Management L.P. increased its holdings in shares of 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 worth $5,353,000 after purchasing an additional 457,726 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Allot during the second quarter valued at about $3,164,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

Allot Company Profile

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.