Allot Communications (NASDAQ:ALLT) Cut to “Buy” at ValuEngine

ValuEngine downgraded shares of Allot Communications (NASDAQ:ALLT) from a strong-buy rating to a buy rating in a report released on Thursday, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Allot Communications from a buy rating to a hold rating in a research note on Friday, July 19th. Zacks Investment Research upgraded Allot Communications from a sell rating to a hold rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Allot Communications has a consensus rating of Hold and an average price target of $6.87.

Shares of NASDAQ:ALLT remained flat at $$7.13 during midday trading on Thursday. The stock had a trading volume of 111,422 shares, compared to its average volume of 48,036. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.98 and a quick ratio of 2.71. Allot Communications has a 52-week low of $5.24 and a 52-week high of $8.34. The firm’s 50-day simple moving average is $7.46.

Allot Communications (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $25.34 million during the quarter, compared to analyst estimates of $25.27 million. Allot Communications had a negative return on equity of 5.50% and a negative net margin of 10.12%. Research analysts anticipate that Allot Communications will post -0.22 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Sphera Funds Management LTD. increased its stake in Allot Communications by 62.1% in the 1st quarter. Sphera Funds Management LTD. now owns 965,931 shares of the communications equipment provider’s stock worth $7,669,000 after buying an additional 370,167 shares in the last quarter. Deutsche Bank AG increased its stake in Allot Communications by 53.1% in the 4th quarter. Deutsche Bank AG now owns 219,979 shares of the communications equipment provider’s stock worth $1,335,000 after buying an additional 76,278 shares in the last quarter. Norges Bank purchased a new stake in Allot Communications in the 4th quarter worth $910,000. Jane Street Group LLC increased its stake in Allot Communications by 38.5% in the 4th quarter. Jane Street Group LLC now owns 18,136 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 5,037 shares in the last quarter. Finally, Cowen Prime Services LLC increased its stake in Allot Communications by 41.4% in the 2nd quarter. Cowen Prime Services LLC now owns 8,200 shares of the communications equipment provider’s stock worth $59,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 61.30% of the company’s stock.

About Allot Communications

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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