AudioCodes (NASDAQ:AUDC) Stock Crosses Above 200 Day Moving Average – Should You Sell?

AudioCodes Ltd. (NASDAQ:AUDC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reduced their target price on AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th.

AudioCodes Stock Performance

The firm’s fifty day moving average is $9.32 and its 200-day moving average is $9.83. The company has a market capitalization of $324.83 million, a P/E ratio of 26.88 and a beta of 0.81.

Institutional Investors Weigh In On AudioCodes

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in AudioCodes by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock valued at $551,000 after purchasing an additional 5,389 shares during the last quarter. XTX Topco Ltd bought a new position in AudioCodes in the 2nd quarter valued at approximately $143,000. Marshall Wace LLP raised its holdings 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 buying an additional 7,009 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in AudioCodes during the 3rd quarter worth approximately $1,618,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in AudioCodes by 11.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after acquiring an additional 9,150 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

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.