AudioCodes (NASDAQ:AUDC) Lowered to “Buy” Rating by StockNews.com

AudioCodes (NASDAQ:AUDC) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

AUDC has been the subject of several other research reports. Needham & Company LLC cut their target price on AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday. Barclays dropped their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday.

AudioCodes Trading Up 7.3 %

AUDC stock traded up $0.57 during trading on Thursday, reaching $8.35. The stock had a trading volume of 281,194 shares, compared to its average volume of 75,452. The stock’s 50 day moving average is $9.48 and its two-hundred day moving average is $10.13. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The firm has a market cap of $252.34 million, a PE ratio of 18.56 and a beta of 0.86.

Institutional Investors Weigh In On AudioCodes

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd grew its stake in AudioCodes by 26.8% during the 1st quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock worth $228,000 after buying an additional 3,691 shares during the last quarter. Bank of New York Mellon Corp grew its stake in AudioCodes by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock valued at $551,000 after purchasing an additional 5,389 shares during the last quarter. Marshall Wace LLP grew its stake in AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 7,009 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in AudioCodes during the 1st quarter valued at about $159,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of AudioCodes by 15.3% in the 1st quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock valued at $1,233,000 after buying an additional 12,541 shares during the period. 68.05% of the stock is owned by institutional investors.

About AudioCodes

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.