Allot Communications Ltd. (ALLT) Sees Strong Trading Volume
Shares of Allot Communications Ltd. (NASDAQ:ALLT) saw unusually-high trading volume on Monday . Approximately 134,778 shares were traded during trading, an increase of 120% from the previous session’s volume of 61,298 shares.The stock last traded at $4.77 and had previously closed at $4.62.
ALLT has been the subject of several recent research reports. Wunderlich lowered shares of Allot Communications from a “buy” rating to a “hold” rating and cut their target price for the company from $7.00 to $5.50 in a research report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Allot Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Bank of America Corp. set a $5.00 target price on shares of Allot Communications and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC dropped their price target on shares of Allot Communications from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.25.
The stock’s market capitalization is $160.19 million. The firm has a 50-day moving average price of $4.86 and a 200-day moving average price of $4.93.
Allot Communications (NASDAQ:ALLT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $23 million for the quarter, compared to analysts’ expectations of $24.43 million. During the same period last year, the firm earned ($0.09) earnings per share. Allot Communications’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Allot Communications Ltd. will post $0.01 EPS for the current year.
Allot Communications Ltd. (Allot) is a global provider of broadband solutions. The Company is focused on developing mobile, fixed and enterprise networks to support the digital lifestyle. Its solutions are based on its deep packet inspection (DPI) technology, identify and leverage the business intelligence in data networks.
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