AudioCodes (NASDAQ:AUDC) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

AudioCodes Ltd. (NASDAQ:AUDC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.83 and traded as high as $10.18. AudioCodes shares last traded at $9.99, with a volume of 110,075 shares trading hands.

Analyst Upgrades and Downgrades

AUDC has been the subject of several analyst reports. Needham & Company LLC dropped their price target 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. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Barclays reduced their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th.

AudioCodes Stock Up 0.5 %

The business’s 50-day simple moving average is $9.15 and its two-hundred day simple moving average is $9.83. The firm has a market capitalization of $301.87 million, a price-to-earnings ratio of 24.98 and a beta of 0.81.

Institutional Trading of AudioCodes

Several institutional investors have recently added to or reduced their stakes in AUDC. XTX Topco Ltd acquired a new position in AudioCodes during the second quarter worth $143,000. DGS Capital Management LLC lifted its stake in AudioCodes by 72.8% during 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. Marshall Wace LLP grew its position in AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after acquiring an additional 7,009 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 worth $551,000 after purchasing an additional 5,389 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of AudioCodes during the third quarter worth about $595,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

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.