Allot Communications Ltd (NASDAQ:ALLT) Sees Significant Decrease in Short Interest

Allot Communications Ltd (NASDAQ:ALLTGet Rating) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 154,800 shares, a decrease of 58.3% from the April 15th total of 371,100 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 447,200 shares, the days-to-cover ratio is currently 0.3 days.

Several analysts have issued reports on ALLT shares. Lake Street Capital dropped their target price on Allot Communications from $16.00 to $13.00 in a report on Wednesday, February 16th. Zacks Investment Research cut Allot Communications from a “hold” rating to a “sell” rating in a report on Monday, February 21st. StockNews.com initiated coverage on Allot Communications in a report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America cut Allot Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $14.00 to $10.00 in a report on Thursday, February 17th. Finally, Needham & Company LLC lowered their price target on Allot Communications from $22.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.80.

A number of hedge funds have recently bought and sold shares of ALLT. Potomac Capital Management Inc. purchased a new position in shares of Allot Communications in the 1st quarter valued at about $1,440,000. B. Riley Asset Management LLC purchased a new position in shares of Allot Communications in the 4th quarter valued at about $1,568,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Allot Communications by 3.1% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,327,853 shares of the communications equipment provider’s stock valued at $27,655,000 after acquiring an additional 70,000 shares during the last quarter. Cowen Prime Advisors LLC increased its holdings in shares of Allot Communications by 71.6% in the 4th quarter. Cowen Prime Advisors LLC now owns 26,775 shares of the communications equipment provider’s stock valued at $318,000 after acquiring an additional 11,175 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Allot Communications by 56.2% in the 1st quarter. Ancora Advisors LLC now owns 25,392 shares of the communications equipment provider’s stock valued at $406,000 after acquiring an additional 9,140 shares during the last quarter. 83.97% of the stock is currently owned by institutional investors.

ALLT traded up $0.17 during mid-day trading on Friday, hitting $5.27. 285,038 shares of the stock were exchanged, compared to its average volume of 296,938. The firm’s fifty day moving average is $7.01 and its two-hundred day moving average is $9.55. Allot Communications has a 1-year low of $4.70 and a 1-year high of $21.04.

Allot Communications (NASDAQ:ALLTGet Rating) last posted its earnings results on Tuesday, February 15th. The communications equipment provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. Allot Communications had a negative return on equity of 10.67% and a negative net margin of 10.33%. The firm had revenue of $40.97 million for the quarter, compared to analyst estimates of $40.90 million. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, research analysts forecast that Allot Communications will post -0.86 earnings per share for the current year.

About Allot Communications (Get Rating)

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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