Radcom (NASDAQ:RDCM) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Radcom Ltd.'s share price has increased to $14.25, surpassing its 200-day moving average of $12.57, indicating a positive trend.
• Analysts have set a consensus rating of "Buy" for Radcom, with an average price target of $18.00, reflecting growing confidence in the stock's potential.
• Institutional investors have recently increased their involvement, with 48.32% of shares now owned by hedge funds and other institutional investors.

Radcom Ltd. (NASDAQ:RDCM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.57 and traded as high as $14.33. Radcom shares last traded at $14.25, with a volume of 86,648 shares.

Analysts Set New Price Targets

RDCM has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of Radcom from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Radcom from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Radcom currently has a consensus rating of "Buy" and an average price target of $18.00.

Radcom Stock Up 3.8%

The company has a market capitalization of $225.03 million, a PE ratio of 24.78 and a beta of 0.68. The company's 50 day moving average is $13.42 and its two-hundred day moving average is $12.60.

Hedge Funds Weigh In On Radcom

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in Radcom during the fourth quarter valued at $31,000. Raymond James Financial Inc. purchased a new position in shares of Radcom in the 2nd quarter worth $34,000. Lazard Asset Management LLC grew its stake in shares of Radcom by 171.1% in the 2nd quarter. Lazard Asset Management LLC now owns 8,136 shares of the technology company's stock worth $110,000 after buying an additional 5,135 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Radcom by 7.4% in the 2nd quarter. ARK Investment Management LLC now owns 148,047 shares of the technology company's stock worth $2,012,000 after buying an additional 10,215 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Radcom in the 2nd quarter worth $165,000. 48.32% of the stock is owned by hedge funds and other institutional investors.

About Radcom

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.