Allot Communications Ltd. (ALLT) Sees Strong Trading Volume
Allot Communications Ltd. (NASDAQ:ALLT) shares saw strong trading volume on Wednesday . 622,463 shares were traded during mid-day trading, an increase of 379% from the previous session’s volume of 130,015 shares.The stock last traded at $5.37 and had previously closed at $5.13.
Several equities research analysts recently issued reports on the stock. Wunderlich lowered shares of Allot Communications from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.00 to $5.50 in a research note on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Allot Communications from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Bank of America Corp. set a $5.00 target price on shares of Allot Communications and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Finally, Barclays PLC dropped their target price on shares of Allot Communications from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Allot Communications presently has a consensus rating of “Hold” and an average target price of $5.25.
The stock has a 50-day moving average of $4.89 and a 200-day moving average of $4.94. The company’s market cap is $183.95 million.
Allot Communications (NASDAQ:ALLT) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. During the same period in the prior year, the company earned ($0.09) EPS. The company had revenue of $23 million for the quarter, compared to the consensus estimate of $24.43 million. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Allot Communications Ltd. will post $0.01 earnings per share 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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