AudioCodes (NASDAQ:AUDC) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AUDC shares. Needham & Company LLC decreased their price objective on AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays reduced their target price on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th.

AudioCodes Stock Performance

The company 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 50-day moving average price is $9.15 and its 200-day moving average price is $9.83.

Institutional Trading of AudioCodes

Several large investors have recently bought and sold shares of AUDC. JPMorgan Chase & Co. boosted its position 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 worth $1,012,000 after buying an additional 50,704 shares in the last quarter. DGS Capital Management LLC lifted its holdings in shares of 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 stake in shares of AudioCodes in the third quarter valued at approximately $595,000. Senvest Management LLC grew its position in shares of AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after purchasing an additional 37,080 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of AudioCodes by 11.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after purchasing an additional 9,150 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Company Profile

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.