Allot (NASDAQ:ALLT) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Allot Ltd. (NASDAQ:ALLT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALLT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Zacks Research downgraded Allot from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Northland Securities set a $18.00 price target on Allot in a research report on Tuesday, January 6th. TD Cowen initiated coverage on Allot in a research report on Monday, October 20th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald started coverage on Allot in a report on Monday, January 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.63.

Allot Price Performance

The firm has a market cap of $482.56 million, a price-to-earnings ratio of 332.00 and a beta of 1.57. The firm’s 50 day moving average price is $10.02 and its 200-day moving average price is $9.37.

Institutional Trading of Allot

A number of hedge funds have recently modified their holdings of ALLT. G2 Investment Partners Management LLC bought a new stake in shares of Allot during the second quarter valued at approximately $14,175,000. QVT Financial LP boosted its stake in Allot by 22.2% during the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock worth $36,598,000 after buying an additional 817,938 shares in the last quarter. Millennium Management LLC increased its holdings in Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after buying an additional 531,412 shares during the period. Greenhaven Road Investment Management L.P. raised its stake in shares of Allot by 272.0% in 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 buying an additional 457,726 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Allot during the second quarter worth about $3,164,000. 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.