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 $9.86 and traded as high as $11.12. AudioCodes shares last traded at $10.83, with a volume of 364,934 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $12.50 price target on shares of AudioCodes in a report on Wednesday, May 7th. Wall Street Zen lowered AudioCodes from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.
Get Our Latest Stock Report on AUDC
AudioCodes Stock Performance
The stock has a 50 day moving average of $9.55 and a two-hundred day moving average of $9.88. The firm has a market capitalization of $310.75 million, a P/E ratio of 18.70 and a beta of 0.89.
Institutional Investors Weigh In On AudioCodes
Institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in AudioCodes by 55.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider's stock worth $5,187,000 after purchasing an additional 188,074 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in AudioCodes in the first quarter worth $412,000. Jane Street Group LLC acquired a new position in AudioCodes in the fourth quarter worth $406,000. Trexquant Investment LP boosted its stake in AudioCodes by 41.7% in the fourth quarter. Trexquant Investment LP now owns 107,475 shares of the communications equipment provider's stock worth $1,047,000 after purchasing an additional 31,622 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of AudioCodes by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 190,338 shares of the communications equipment provider's stock valued at $1,854,000 after acquiring an additional 30,611 shares during the period. Institutional investors and hedge funds own 68.05% of the company's stock.
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.
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