AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 24.8% in November

AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 221,200 shares, a decrease of 24.8% from the November 15th total of 294,100 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 83,400 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AUDC. XTX Topco Ltd acquired a new stake in shares of AudioCodes in the 2nd quarter worth about $143,000. DGS Capital Management LLC raised its stake 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 worth $211,000 after purchasing an additional 9,133 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of AudioCodes by 37.5% in the second 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 second 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 during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in AudioCodes during the third quarter worth $595,000. 68.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. Barclays dropped their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Finally, Needham & Company LLC reduced their target price on AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th.

AudioCodes Trading Down 0.2 %

Shares of AUDC traded down $0.02 during trading hours on Friday, reaching $9.24. The stock had a trading volume of 34,602 shares, compared to its average volume of 77,734. The firm has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $9.88. AudioCodes has a 12 month low of $7.70 and a 12 month high of $14.45. The company has a market capitalization of $279.21 million, a price-to-earnings ratio of 23.10 and a beta of 0.84.

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.