Short Interest in AudioCodes Ltd. (NASDAQ:AUDC) Grows By 14.9%

AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 160,400 shares, a growth of 14.9% from the December 31st total of 139,600 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 88,800 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays lowered their price objective on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. StockNews.com lowered AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of AudioCodes in a research note on Tuesday, January 21st.

AudioCodes Price Performance

Shares of AUDC opened at $10.15 on Monday. The company has a market capitalization of $306.73 million, a P/E ratio of 25.38 and a beta of 0.81. AudioCodes has a one year low of $7.70 and a one year high of $14.45. The business’s 50 day simple moving average is $9.82 and its 200-day simple moving average is $9.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of AudioCodes by 151.8% in the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,185 shares in the last quarter. R Squared Ltd acquired a new position in shares of AudioCodes in the 4th quarter worth approximately $97,000. JPMorgan Chase & Co. boosted its holdings in shares of AudioCodes by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after acquiring an additional 50,704 shares in the last quarter. DGS Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes in the 3rd quarter worth approximately $595,000. 68.05% of the stock is owned by institutional investors and hedge funds.

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.