AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 160,400 shares, a growth of 14.9% from the December 31st total of 139,600 shares. Based on an average trading volume of 88,800 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.8% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Barclays lifted their price objective on AudioCodes from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of AudioCodes from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday.

Institutional Trading of AudioCodes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of AudioCodes by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock worth $509,000 after purchasing an additional 1,419 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of AudioCodes by 151.8% during the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock valued at $35,000 after acquiring an additional 2,185 shares in the last quarter. Marshall Wace LLP lifted its holdings in AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock worth $267,000 after buying an additional 7,009 shares during the period. DGS Capital Management LLC lifted its position in AudioCodes by 72.8% during the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock valued at $211,000 after buying an additional 9,133 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in AudioCodes by 11.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider's stock worth $893,000 after purchasing an additional 9,150 shares during the period. 68.05% of the stock is owned by institutional investors.

AudioCodes Price Performance

AUDC stock traded up $0.62 during midday trading on Wednesday, reaching $11.28. 172,916 shares of the company were exchanged, compared to its average volume of 120,461. AudioCodes has a one year low of $7.70 and a one year high of $14.45. The firm has a market capitalization of $340.79 million, a price-to-earnings ratio of 28.14 and a beta of 0.80. The business has a 50-day moving average price of $9.86 and a two-hundred day moving average price of $9.80.

AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. As a group, analysts anticipate that AudioCodes will post 0.51 earnings per share for the current fiscal year.

AudioCodes Company Profile

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.