AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

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

Institutional Investors Weigh In On AudioCodes

Several large investors have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in AudioCodes during the second quarter valued at $143,000. DGS Capital Management LLC lifted its stake in shares of AudioCodes by 72.8% in the 3rd 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 during the period. Marshall Wace LLP boosted 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 valued at $267,000 after purchasing an additional 7,009 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in AudioCodes during the third quarter worth approximately $595,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

AudioCodes Trading Down 1.2 %

AudioCodes stock traded down $0.11 during mid-day trading on Friday, reaching $9.43. The company had a trading volume of 51,584 shares, compared to its average volume of 77,920. The business has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $9.85. The company has a market cap of $284.95 million, a P/E ratio of 23.58 and a beta of 0.84. AudioCodes has a fifty-two week low of $7.70 and a fifty-two week high of $14.45.

Analyst Upgrades and Downgrades

AUDC has been the subject of several analyst reports. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th. Needham & Company LLC decreased their target price on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Barclays cut their price target 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.

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.