AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 139,600 shares, a decline of 36.9% from the November 30th total of 221,200 shares. Based on an average daily volume of 80,300 shares, the short-interest ratio is presently 1.7 days. Currently, 0.7% of the shares of the stock are sold short.

AudioCodes Stock Down 1.2 %

AUDC stock traded down $0.11 during mid-day trading on Friday, reaching $9.43. 51,584 shares of the stock traded hands, compared to its average volume of 77,920. The firm has a market capitalization of $284.95 million, a PE ratio of 23.58 and a beta of 0.84. The business has a 50-day moving average of $9.11 and a two-hundred day moving average of $9.84. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45.

Institutional Investors Weigh In On AudioCodes

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of AudioCodes in the 3rd quarter worth about $1,618,000. Y.D. More Investments Ltd bought a new stake in AudioCodes during the 2nd quarter worth about $1,123,000. Public Employees Retirement System of Ohio acquired a new position in AudioCodes during the 3rd quarter valued at about $595,000. JPMorgan Chase & Co. grew its position in shares of AudioCodes by 95.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after buying an additional 50,704 shares during the period. Finally, Senvest Management LLC raised its stake in shares of AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after buying an additional 37,080 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Analyst Upgrades and Downgrades

AUDC has been the topic of several research analyst reports. Barclays lowered their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Needham & Company LLC reduced their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

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.