AudioCodes (NASDAQ:AUDC) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

AudioCodes Ltd. (NASDAQ:AUDC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.83 and traded as high as $10.33. AudioCodes shares last traded at $10.32, with a volume of 230,922 shares traded.

Wall Street Analysts Forecast Growth

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

AudioCodes Trading Up 1.7 %

The stock has a market capitalization of $324.83 million, a P/E ratio of 26.88 and a beta of 0.81. The company has a 50-day moving average price of $9.32 and a two-hundred day moving average price of $9.83.

Institutional Investors Weigh In On AudioCodes

A number of hedge funds have recently added to or reduced their stakes in AUDC. JPMorgan Chase & Co. increased its stake in shares of AudioCodes by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock valued at $1,012,000 after acquiring an additional 50,704 shares in the last quarter. DGS Capital Management LLC increased its stake in AudioCodes by 72.8% in the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 9,133 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes during the third quarter valued at about $595,000. Senvest Management LLC boosted its position in shares of AudioCodes by 1.5% during the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after purchasing an additional 37,080 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in AudioCodes by 11.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after buying an additional 9,150 shares in the last quarter. 68.05% of the stock is currently 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.