AudioCodes (NASDAQ:AUDC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.61 and traded as high as $9.21. AudioCodes shares last traded at $9.11, with a volume of 112,895 shares.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

AudioCodes Price Performance

The firm has a market cap of $231.85 million, a price-to-earnings ratio of 36.44 and a beta of 0.97. The firm has a fifty day moving average price of $9.09 and a 200-day moving average price of $8.61.

AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.33%. The business had revenue of $62.14 million during the quarter, compared to analyst estimates of $61.50 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC lifted its holdings in shares of AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 7,052 shares during the period. Goldman Sachs Group Inc. purchased a new stake in AudioCodes in the first quarter valued at approximately $412,000. Jane Street Group LLC increased its position in AudioCodes by 14.2% during the first quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock worth $449,000 after purchasing an additional 5,938 shares during the last quarter. JPMorgan Chase & Co. increased its position in AudioCodes by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock worth $386,000 after purchasing an additional 10,877 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in AudioCodes by 12.3% during the second quarter. Marshall Wace LLP now owns 179,371 shares of the communications equipment provider’s stock worth $1,761,000 after purchasing an additional 19,629 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.

About AudioCodes

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.