Allot Communications (NASDAQ:ALLT) Downgraded by Zacks Investment Research

Allot Communications (NASDAQ:ALLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Allot Ltd. is a provider of network intelligence and security solutions for service providers and enterprises. Allot Ltd., formerly known as ALLOT COMM LTD, is based in HOD HASHARON, Israel. “

Separately, Lake Street Capital boosted their price objective on shares of Allot Communications from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, June 8th.

Shares of Allot Communications stock traded down $0.45 on Tuesday, reaching $14.87. 1,542 shares of the company were exchanged, compared to its average volume of 249,125. Allot Communications has a 1-year low of $8.74 and a 1-year high of $21.04. The stock’s 50 day moving average price is $16.55 and its 200-day moving average price is $17.52. The company has a market cap of $526.15 million, a P/E ratio of -43.73 and a beta of 0.60.

Allot Communications (NASDAQ:ALLT) last released its quarterly earnings results on Monday, August 9th. The communications equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. Allot Communications had a negative net margin of 8.56% and a negative return on equity of 8.72%. The business had revenue of $35.29 million during the quarter. On average, equities research analysts expect that Allot Communications will post -0.2 EPS for the current year.

A hedge fund recently bought a new stake in Allot Communications stock. Cowen Prime Advisors LLC purchased a new stake in shares of Allot Communications Ltd (NASDAQ:ALLT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,600 shares of the communications equipment provider’s stock, valued at approximately $309,000. 73.20% of the stock is owned by institutional investors and hedge funds.

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.

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