Shares of AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.83 and traded as high as $10.33. AudioCodes shares last traded at $10.32, with a volume of 230,922 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Barclays cut their price target on shares of AudioCodes from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC lowered their price target on AudioCodes from $14.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com raised AudioCodes from a "buy" rating to a "strong-buy" rating in a report on Monday, December 16th.
Check Out Our Latest Research Report on AudioCodes
AudioCodes Stock Up 2.0 %
The business has a fifty day moving average of $9.23 and a 200 day moving average of $9.83. The firm has a market cap of $318.19 million, a P/E ratio of 26.33 and a beta of 0.81.
Institutional Trading of AudioCodes
Several hedge funds have recently added to or reduced their stakes in the company. Senvest Management LLC raised its stake in AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider's stock valued at $25,108,000 after purchasing an additional 37,080 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in AudioCodes during the third quarter valued at approximately $1,618,000. JPMorgan Chase & Co. lifted its position in shares of AudioCodes by 95.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider's stock worth $1,012,000 after buying an additional 50,704 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position 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 valued at $893,000 after acquiring an additional 9,150 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of AudioCodes in the third quarter worth about $595,000. 68.05% of the stock is owned by institutional investors and hedge funds.
AudioCodes Company Profile
(
Get Free Report)
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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