AudioCodes (NASDAQ:AUDC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.
Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $12.50 target price on shares of AudioCodes in a research note on Wednesday, May 7th.
Read Our Latest Stock Report on AUDC
AudioCodes Stock Performance
AudioCodes stock traded down $0.16 during trading on Friday, reaching $8.98. 30,205 shares of the company's stock were exchanged, compared to its average volume of 82,775. The firm has a market cap of $266.38 million, a price-to-earnings ratio of 16.04 and a beta of 0.89. The company's 50-day moving average is $9.27 and its two-hundred day moving average is $9.86. AudioCodes has a 52-week low of $7.70 and a 52-week high of $12.72.
Institutional Trading of AudioCodes
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AUDC. Bank of New York Mellon Corp raised its holdings in shares of AudioCodes by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock worth $509,000 after acquiring an additional 1,419 shares in the last quarter. Value Base Ltd. acquired a new stake in AudioCodes during the fourth quarter worth approximately $19,665,000. Norges Bank acquired a new position in shares of AudioCodes during the 4th quarter worth $120,000. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $5,187,000 after buying an additional 188,074 shares during the period. Finally, Trexquant Investment LP grew its position in shares of AudioCodes by 41.7% during the fourth quarter. Trexquant Investment LP now owns 107,475 shares of the communications equipment provider's stock worth $1,047,000 after buying an additional 31,622 shares in the last quarter. Hedge funds and other institutional investors own 68.05% of the company's stock.
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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