AudioCodes (NASDAQ:AUDC) Shares Pass Above 200 Day Moving Average – Should You Sell?

AudioCodes Ltd. (NASDAQ:AUDC) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.83 and traded as high as $10.33. AudioCodes shares last traded at $10.32, with a volume of 230,922 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays dropped their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Needham & Company LLC lowered their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research note 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.

AudioCodes Trading Up 6.8 %

The company has a market capitalization of $311.84 million, a price-to-earnings ratio of 25.80 and a beta of 0.81. The firm’s 50 day simple moving average is $9.23 and its 200-day simple moving average is $9.83.

Hedge Funds Weigh In On AudioCodes

A number of institutional investors have recently made changes to their positions in AUDC. XTX Topco Ltd purchased a new stake in shares of AudioCodes in the second quarter valued at $143,000. DGS Capital Management LLC boosted its holdings 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 worth $211,000 after acquiring an additional 9,133 shares during the period. Marshall Wace LLP grew its holdings in 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 grew its stake 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 acquiring an additional 5,389 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the 3rd quarter worth approximately $595,000. 68.05% of the stock is owned by institutional investors and hedge funds.

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.