AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 349,275 shares, a growth of 19.5% from the December 15th total of 292,190 shares. Based on an average trading volume of 70,887 shares, the short-interest ratio is presently 4.9 days. Approximately 2.4% of the company’s shares are short sold. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 70,887 shares, the short-interest ratio is presently 4.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in AudioCodes during the 3rd quarter valued at approximately $206,000. Susquehanna Advisors Group Inc. purchased a new position in shares of AudioCodes during the 3rd quarter valued at approximately $217,000. SIH Partners LLLP purchased a new position in shares of AudioCodes during the 3rd quarter valued at approximately $170,000. Millennium Management LLC grew its position in shares of AudioCodes by 182.9% during the third quarter. Millennium Management LLC now owns 141,319 shares of the communications equipment provider’s stock worth $1,345,000 after buying an additional 91,361 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of AudioCodes by 186.0% in the third quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock worth $550,000 after buying an additional 37,542 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Price Performance

AudioCodes stock opened at $8.34 on Wednesday. AudioCodes has a 12-month low of $8.01 and a 12-month high of $12.72. The company has a market capitalization of $239.19 million, a price-to-earnings ratio of 18.13 and a beta of 1.04. The firm’s fifty day moving average price is $8.87 and its 200 day moving average price is $9.38.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AUDC shares. Zacks Research upgraded shares of AudioCodes from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.25.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.