Short Interest in AudioCodes Ltd. (NASDAQ:AUDC) Increases By 19.5%

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

Analysts Set New Price Targets

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

AudioCodes Trading Down 3.4%

AUDC stock opened at $8.36 on Monday. The firm has a 50-day moving average price of $8.91 and a 200-day moving average price of $9.40. AudioCodes has a 12 month low of $8.01 and a 12 month high of $12.72. The stock has a market capitalization of $239.76 million, a P/E ratio of 18.17 and a beta of 1.04.

Institutional Trading of AudioCodes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of AudioCodes during the first quarter worth $412,000. Susquehanna Advisors Group Inc. bought a new stake in AudioCodes during the third quarter valued at $217,000. Millennium Management LLC grew its holdings in AudioCodes by 182.9% during the 3rd quarter. Millennium Management LLC now owns 141,319 shares of the communications equipment provider’s stock worth $1,345,000 after acquiring an additional 91,361 shares during the period. Bank of America Corp DE raised its position in shares of AudioCodes by 186.0% in the 3rd quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock worth $550,000 after acquiring an additional 37,542 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of AudioCodes by 38.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock valued at $386,000 after purchasing an additional 10,877 shares during the period. Institutional investors own 68.05% of the company’s stock.

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.