Allot Communications Ltd (NASDAQ:ALLT – Get Rating) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 109,300 shares, a drop of 19.3% from the October 15th total of 135,400 shares. Based on an average daily trading volume, of 96,800 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.4% of the company’s shares are sold short.
Hedge Funds Weigh In On Allot Communications
An institutional investor recently raised its position in Allot Communications stock. Ancora Advisors LLC increased its position in Allot Communications Ltd (NASDAQ:ALLT – Get Rating) by 56.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,392 shares of the communications equipment provider’s stock after purchasing an additional 9,140 shares during the period. Ancora Advisors LLC owned 0.07% of Allot Communications worth $406,000 at the end of the most recent reporting period. 74.92% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on ALLT shares. StockNews.com started coverage on Allot Communications in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Needham & Company LLC cut their price objective on Allot Communications from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.38.
Allot Communications Stock Up 0.9 %
Shares of NASDAQ ALLT opened at $4.45 on Monday. Allot Communications has a 1 year low of $3.47 and a 1 year high of $13.23. The firm has a market cap of $162.38 million, a price-to-earnings ratio of -8.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.61 and a current ratio of 2.82. The stock’s 50-day simple moving average is $4.02 and its 200-day simple moving average is $4.77.
Allot Communications (NASDAQ:ALLT – Get Rating) last announced its earnings results on Tuesday, August 16th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.14. Allot Communications had a negative return on equity of 15.21% and a negative net margin of 13.53%. The business had revenue of $32.77 million for the quarter, compared to analyst estimates of $32.60 million. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, equities analysts anticipate that Allot Communications will post -0.91 earnings per share for the current fiscal year.
Allot Communications Company Profile
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.