Short Interest in AudioCodes Ltd. (NASDAQ:AUDC) Expands By 28.6%

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AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 219,200 shares, a growth of 28.6% from the November 14th total of 170,400 shares. Based on an average daily trading volume, of 280,800 shares, the short-interest ratio is presently 0.8 days. Currently, 1.1% of the shares of the company are short sold.

AUDC has been the topic of several research analyst reports. ValuEngine cut shares of AudioCodes from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. BidaskClub cut shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Saturday, December 7th.

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of AudioCodes by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock valued at $7,468,000 after purchasing an additional 2,762 shares during the period. Phoenix Holdings Ltd. purchased a new position in shares of AudioCodes in the 3rd quarter worth approximately $6,142,000. Altshuler Shaham Ltd boosted its stake in shares of AudioCodes by 22.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 285,252 shares of the communications equipment provider’s stock worth $4,463,000 after buying an additional 51,551 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of AudioCodes in the 2nd quarter worth approximately $2,548,000. Finally, Bogle Investment Management L P DE boosted its stake in shares of AudioCodes by 116.5% in the 2nd quarter. Bogle Investment Management L P DE now owns 130,778 shares of the communications equipment provider’s stock worth $2,024,000 after buying an additional 70,373 shares during the last quarter. 32.65% of the stock is currently owned by institutional investors.

Shares of AudioCodes stock traded up $0.26 during trading on Thursday, hitting $24.75. The stock had a trading volume of 5,258 shares, compared to its average volume of 294,398. The firm has a market cap of $714.37 million, a price-to-earnings ratio of 32.15 and a beta of 0.59. AudioCodes has a 12 month low of $9.00 and a 12 month high of $25.04. The business’s 50-day moving average is $22.15 and its 200 day moving average is $18.54. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

AudioCodes (NASDAQ:AUDC) last issued its earnings results on Tuesday, October 29th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $51.41 million for the quarter. AudioCodes had a net margin of 8.66% and a return on equity of 23.08%.

AudioCodes Company Profile

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.

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