Radcom (NASDAQ:RDCM) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Radcom Ltd. (NASDAQ:RDCM) shares have recently surpassed their 200-day moving average of $12.63, with the stock trading at $12.80 and a peak of $13.36.
• Analyst ratings for Radcom have improved, with Needham & Company increasing its price target from $17.00 to $18.00 and assigning a "buy" rating, while Wall Street Zen upgraded it to a "strong-buy".
• Institutional investors have shown significant interest, with Millennium Management increasing its holdings by 171.6%, indicating a strong bullish sentiment around Radcom's stock.

Radcom Ltd. (NASDAQ:RDCM - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.63 and traded as high as $13.36. Radcom shares last traded at $12.80, with a volume of 106,167 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RDCM. Needham & Company LLC lifted their target price on shares of Radcom from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen lowered Radcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.00.

Radcom Trading Down 1.8%

The firm has a market capitalization of $202.17 million, a PE ratio of 22.26 and a beta of 0.74. The business has a 50-day moving average of $13.24 and a 200 day moving average of $12.63.

Hedge Funds Weigh In On Radcom

Several large investors have recently modified their holdings of RDCM. Public Employees Retirement System of Ohio bought a new position in Radcom in the 4th quarter worth approximately $31,000. Raymond James Financial Inc. purchased a new position in shares of Radcom in the second quarter valued at $34,000. JPMorgan Chase & Co. raised its stake in shares of Radcom by 1,433.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,600 shares of the technology company's stock valued at $57,000 after purchasing an additional 4,300 shares during the period. State of Tennessee Department of Treasury bought a new position in Radcom in the 4th quarter worth about $62,000. Finally, Lazard Asset Management LLC increased its holdings in Radcom by 171.1% during the 2nd quarter. Lazard Asset Management LLC now owns 8,136 shares of the technology company's stock worth $110,000 after acquiring an additional 5,135 shares during the period. Hedge funds and other institutional investors own 48.32% of the company's stock.

Radcom Company Profile

RADCOM Ltd. provides 5G ready cloud-native, network intelligence, and service assurance solutions for telecom operators or communication service providers (CSPs). It offers RADCOM ACE, including RADCOM Service Assurance, a cloud-native, 5G-ready, and virtualized service assurance solutions, which allows telecom operators to gain end-to-end network visibility and customer experience insights across all networks; RADCOM Network Visibility, a cloud-native network packet broker and filtering solution that allows CSPs to manage network traffic at scale across multiple cloud environments, and control the visibility layer to perform analysis of select datasets; and RADCOM Network Insights, a business intelligence solution that offers insights for multiple use cases enabled by data captured and correlated through RADCOM Network Visibility and RADCOM Service Assurance.