AudioCodes Ltd. (AUDC) Sees Unusually-High Trading Volume
AudioCodes Ltd. (NASDAQ:AUDC) saw an uptick in trading volume on Thursday . 974,975 shares changed hands during trading, an increase of 993% from the previous session’s volume of 89,188 shares.The stock last traded at $4.14 and had previously closed at $4.12.
A number of brokerages have issued reports on AUDC. Zacks Investment Research lowered shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Needham & Company LLC increased their price objective on shares of AudioCodes from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, July 27th. William Blair reaffirmed a “buy” rating on shares of AudioCodes in a report on Tuesday, July 26th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AudioCodes in a report on Thursday, July 28th.
The firm’s 50-day moving average price is $4.16 and its 200-day moving average price is $4.21. The firm has a market capitalization of $151.07 million and a PE ratio of 49.88.
AudioCodes (NASDAQ:AUDC) last issued its earnings results on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm earned $35.90 million during the quarter, compared to analysts’ expectations of $35.38 million. AudioCodes’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that AudioCodes Ltd. will post $0.25 EPS for the current year.
AudioCodes Ltd. designs, develops and sells products and services for voice and data over packet networks. The Company’s products primarily provide the media gateway and session border controllers (SBC) element in the network, as well as voice over Internet protocol (VoIP), end-points, such as Internet protocol (IP) Phones and VoIP mobile clients.
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