AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.83 and traded as high as $10.18. AudioCodes shares last traded at $9.99, with a volume of 110,075 shares traded.
Analysts Set New Price Targets
AUDC has been the subject of a number of research reports. StockNews.com upgraded shares of AudioCodes from a "buy" rating to a "strong-buy" rating in a research report on Monday, December 16th. Barclays lowered their target price on AudioCodes from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Thursday, November 7th. Finally, Needham & Company LLC cut their price target on AudioCodes from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, November 7th.
Get Our Latest Stock Analysis on AUDC
AudioCodes Trading Up 0.5 %
The stock's 50 day moving average price is $9.15 and its two-hundred day moving average price is $9.83. The firm has a market capitalization of $301.87 million, a PE ratio of 24.98 and a beta of 0.81.
Institutional Investors Weigh In On AudioCodes
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of AudioCodes by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider's stock worth $551,000 after purchasing an additional 5,389 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of AudioCodes during the 2nd quarter valued at about $1,123,000. XTX Topco Ltd acquired a new position in shares of AudioCodes during the second quarter worth $143,000. Marshall Wace LLP grew its holdings in AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock valued at $267,000 after purchasing an additional 7,009 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of AudioCodes during the third quarter worth about $1,618,000. 68.05% of the stock is currently owned by hedge funds and other institutional investors.
About AudioCodes
(
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.
Further Reading
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