StockNews.com cut shares of AudioCodes (NASDAQ:AUDC - Free Report) from a strong-buy rating to a buy rating in a research report report published on Tuesday.
Several other equities research analysts have also recently weighed in on AUDC. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of AudioCodes in a research report on Tuesday, January 21st. Barclays dropped their target price on shares of AudioCodes from $10.00 to $9.00 and set an "underweight" rating for the company in a report on Thursday, November 7th.
Read Our Latest Report on AudioCodes
AudioCodes Trading Down 0.5 %
AUDC stock traded down $0.05 during midday trading on Tuesday, hitting $10.15. The company had a trading volume of 45,689 shares, compared to its average volume of 89,768. The stock has a market cap of $306.73 million, a price-to-earnings ratio of 25.38 and a beta of 0.81. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The stock's 50 day moving average price is $9.82 and its 200 day moving average price is $9.81.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of AudioCodes by 151.8% during the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 2,185 shares in the last quarter. R Squared Ltd bought a new stake in AudioCodes during the 4th quarter valued at approximately $97,000. XTX Topco Ltd purchased a new position in shares of AudioCodes during the 2nd quarter worth approximately $143,000. DGS Capital Management LLC grew its holdings in shares of AudioCodes by 72.8% during the 3rd 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. Finally, Marshall Wace LLP raised its position in shares of AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock worth $267,000 after acquiring an additional 7,009 shares in the last quarter. 68.05% of the stock is owned by hedge funds and other institutional investors.
About AudioCodes
(
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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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