AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 17.6% in December

AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 292,190 shares, a decrease of 17.6% from the November 30th total of 354,780 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 101,539 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 101,539 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.0% of the company’s stock are short sold.

Institutional Investors Weigh In On AudioCodes

Several large investors have recently bought and sold shares of AUDC. Verition Fund Management LLC purchased a new stake in shares of AudioCodes during the 3rd quarter valued at about $206,000. Susquehanna Advisors Group Inc. purchased a new stake in AudioCodes in the third quarter worth approximately $217,000. SIH Partners LLLP bought a new stake in AudioCodes in the 3rd quarter worth approximately $170,000. Millennium Management LLC grew its position in AudioCodes by 182.9% in the 3rd quarter. Millennium Management LLC now owns 141,319 shares of the communications equipment provider’s stock worth $1,345,000 after purchasing an additional 91,361 shares during the period. Finally, Bank of America Corp DE raised its stake in AudioCodes by 186.0% during the 3rd quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock valued at $550,000 after buying an additional 37,542 shares during the last quarter. 68.05% of the stock is currently owned by institutional investors.

AudioCodes Trading Down 1.0%

AUDC stock opened at $8.75 on Wednesday. The stock’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $9.47. AudioCodes has a 12-month low of $8.01 and a 12-month high of $12.72. The stock has a market capitalization of $250.95 million, a PE ratio of 19.02 and a beta of 1.04.

Analyst Upgrades and Downgrades

AUDC has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of AudioCodes in a research note on Monday. Wall Street Zen lowered shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Zacks Research upgraded AudioCodes from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AudioCodes has a consensus rating of “Hold” and a consensus price target of $11.25.

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.