AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 221,200 shares, a decline of 24.8% from the November 15th total of 294,100 shares. Based on an average trading volume of 83,400 shares, the short-interest ratio is currently 2.7 days. Approximately 1.1% of the company's stock are sold short.

AudioCodes Stock Performance

Shares of AudioCodes stock traded down $0.02 during mid-day trading on Friday, hitting $9.24. 34,602 shares of the stock were exchanged, compared to its average volume of 77,734. The company has a market capitalization of $279.23 million, a P/E ratio of 23.10 and a beta of 0.84. The company has a 50-day simple moving average of $9.14 and a 200 day simple moving average of $9.89. AudioCodes has a 12 month low of $7.70 and a 12 month high of $14.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in shares of AudioCodes in the 2nd quarter worth about $143,000. DGS Capital Management LLC raised its position in AudioCodes by 72.8% in the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock worth $211,000 after acquiring an additional 9,133 shares during the period. Marshall Wace LLP boosted its stake in AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock valued at $267,000 after acquiring an additional 7,009 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AudioCodes by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider's stock valued at $551,000 after acquiring an additional 5,389 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of AudioCodes during the 3rd quarter worth approximately $595,000. Hedge funds and other institutional investors own 68.05% of the company's stock.

Analyst Upgrades and Downgrades

AUDC has been the subject of several analyst reports. Needham & Company LLC lowered their price objective on AudioCodes from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. StockNews.com cut AudioCodes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 7th. Finally, Barclays cut their price objective on shares of AudioCodes from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Thursday, November 7th.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.

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