AudioCodes (NASDAQ:AUDC) Shares Cross Above 200-Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC)’s stock price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AUDC shares. Barclays dropped their price objective on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Needham & Company LLC reduced 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.

AudioCodes Trading Up 6.8 %

The firm’s 50 day simple moving average is $9.23 and its 200 day simple moving average is $9.83. The firm has a market cap of $311.84 million, a PE ratio of 25.80 and a beta of 0.81.

Institutional Investors Weigh In On AudioCodes

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in AudioCodes during the 3rd quarter worth approximately $1,618,000. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes in the 3rd quarter worth approximately $595,000. JPMorgan Chase & Co. grew its position in AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock valued at $1,012,000 after buying an additional 50,704 shares during the period. Senvest Management LLC grew its position in shares of AudioCodes by 1.5% during the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after acquiring an additional 37,080 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of AudioCodes in the second quarter valued at approximately $143,000. 68.05% of the stock is owned by institutional investors.

AudioCodes Company Profile

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.