AudioCodes (NASDAQ:AUDC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

AudioCodes Ltd. (NASDAQ:AUDC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.83 and traded as high as $10.18. AudioCodes shares last traded at $9.99, with a volume of 110,075 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on AUDC. Barclays cut their price target on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC cut their target price on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th.

AudioCodes Trading Up 0.5 %

The firm has a market capitalization of $301.87 million, a price-to-earnings ratio of 24.98 and a beta of 0.81. The stock’s fifty day moving average price is $9.15 and its two-hundred day moving average price is $9.83.

Institutional Trading of AudioCodes

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of AudioCodes during the 2nd quarter worth about $143,000. DGS Capital Management LLC raised its holdings in AudioCodes by 72.8% during the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 9,133 shares in the last quarter. Marshall Wace LLP lifted its position in shares of AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after buying an additional 7,009 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AudioCodes by 11.3% in 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 buying an additional 5,389 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of AudioCodes in the 3rd quarter valued at $595,000. 68.05% of the stock is owned by hedge funds and other 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.