AudioCodes Ltd. (NASDAQ:AUDC) Sees Large Decline in Short Interest

AudioCodes Ltd. (NASDAQ:AUDC) saw a significant decrease in short interest in the month of 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. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 80,300 shares, the short-interest ratio is presently 1.7 days.

AudioCodes Price Performance

NASDAQ AUDC traded down $0.11 during trading on Friday, reaching $9.43. 51,584 shares of the company’s stock were exchanged, compared to its average volume of 77,920. The business has a 50 day moving average price of $9.12 and a 200-day moving average price of $9.85. The stock has a market capitalization 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.

Wall Street Analysts Forecast Growth

AUDC has been the topic of a number of recent research reports. Needham & Company LLC lowered their price objective 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. 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 report on Thursday, November 7th. Finally, StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th.

Institutional Investors Weigh In On AudioCodes

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of AudioCodes in the second quarter valued at about $143,000. DGS Capital Management LLC boosted its stake in 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 grew its holdings in AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $551,000 after buying an additional 5,389 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of AudioCodes in the third quarter valued at about $595,000. Institutional investors 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.