Allot Communications Ltd. (ALLT) Sees Large Volume Increase
Allot Communications Ltd. (NASDAQ:ALLT) saw unusually-strong trading volume on Wednesday . Approximately 622,463 shares traded hands during 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 analysts have weighed in on ALLT shares. Wunderlich cut Allot Communications from a “buy” rating to a “hold” rating and cut their price target for the company from $7.00 to $5.50 in a report on Tuesday, May 3rd. Zacks Investment Research cut Allot Communications from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Barclays PLC dropped their target price on Allot Communications from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, July 7th. Finally, Bank of America Corp. set a $5.00 target price on Allot Communications and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.25.
The company has a 50-day moving average price of $4.85 and a 200 day moving average price of $4.93. The company’s market capitalization is $179.80 million.
Allot Communications (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm earned $23 million during the quarter, compared to analysts’ expectations of $24.43 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities 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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