Radcom (NASDAQ:RDCM) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Radcom Ltd. (NASDAQ:RDCM)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.43 and traded as low as $13.31. Radcom shares last traded at $13.41, with a volume of 50,695 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RDCM. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Radcom in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Radcom in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Radcom Stock Down 1.2%

The company’s 50 day simple moving average is $13.35 and its 200-day simple moving average is $13.43. The firm has a market cap of $220.06 million, a P/E ratio of 20.63 and a beta of 0.60.

Hedge Funds Weigh In On Radcom

Several institutional investors have recently made changes to their positions in RDCM. Russell Investments Group Ltd. increased its position in Radcom by 1.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 101,990 shares of the technology company’s stock valued at $1,477,000 after purchasing an additional 1,542 shares during the period. Raymond James Financial Inc. purchased a new position in Radcom in the second quarter valued at about $34,000. Bank of America Corp DE lifted its position in shares of Radcom by 93.8% during the third quarter. Bank of America Corp DE now owns 9,014 shares of the technology company’s stock valued at $131,000 after buying an additional 4,364 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Radcom by 171.1% in the 2nd quarter. Lazard Asset Management LLC now owns 8,136 shares of the technology company’s stock worth $110,000 after buying an additional 5,135 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Radcom during the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 48.32% of the company’s stock.

About Radcom

RADCOM Ltd. provides 5G ready cloud-native, network intelligence, and service assurance solutions for telecom operators or communication service providers (CSPs). It offers RADCOM ACE, including RADCOM Service Assurance, a cloud-native, 5G-ready, and virtualized service assurance solutions, which allows telecom operators to gain end-to-end network visibility and customer experience insights across all networks; RADCOM Network Visibility, a cloud-native network packet broker and filtering solution that allows CSPs to manage network traffic at scale across multiple cloud environments, and control the visibility layer to perform analysis of select datasets; and RADCOM Network Insights, a business intelligence solution that offers insights for multiple use cases enabled by data captured and correlated through RADCOM Network Visibility and RADCOM Service Assurance.