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

Key Points

• Radcom Ltd. (NASDAQ:RDCM) has surpassed its 200-day moving average of $12.61, reaching a high of $14.32 during trading, with current shares priced at $14.04.
• Wall Street analysts have a positive outlook for Radcom, with Needham & Company raising their price target from $17.00 to $18.00 and upgrading the stock to a "buy."
• Institutional investors hold 48.32% of Radcom's stock, with significant recent investments from firms such as ARK Investment Management and Millennium Management.

Radcom Ltd. (NASDAQ:RDCM - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.61 and traded as high as $14.32. Radcom shares last traded at $14.04, with a volume of 35,992 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Radcom from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of Radcom from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th.

Radcom Stock Performance

The firm has a market cap of $217.83 million, a P/E ratio of 25.76 and a beta of 0.73. The firm's fifty day moving average price is $13.22 and its 200 day moving average price is $12.64.

Institutional Trading of Radcom

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Radcom during the fourth quarter worth about $31,000. JPMorgan Chase & Co. lifted its position 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 worth $57,000 after buying an additional 4,300 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Radcom in the 4th quarter valued at $62,000. Prudential Financial Inc. acquired a new position in shares of Radcom in the 4th quarter valued at $183,000. Finally, Northern Trust Corp acquired a new position in shares of Radcom in the 4th quarter valued at $269,000. 48.32% of the stock is owned by hedge funds and other institutional investors.

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.