AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 294,100 shares, a growth of 131.0% from the October 31st total of 127,300 shares. Based on an average trading volume of 84,100 shares, the short-interest ratio is presently 3.5 days. Approximately 1.4% of the company’s stock are short sold.

Institutional Trading of AudioCodes

Several large investors have recently made changes to their positions in the company. Senvest Management LLC lifted its stake in AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after purchasing an additional 37,080 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of AudioCodes by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 852,899 shares of the communications equipment provider’s stock worth $11,122,000 after buying an additional 23,104 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in AudioCodes by 85.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 441,878 shares of the communications equipment provider’s stock valued at $4,587,000 after buying an additional 203,399 shares in the last quarter. ARK Investment Management LLC grew its position in AudioCodes by 9.5% in the second quarter. ARK Investment Management LLC now owns 202,182 shares of the communications equipment provider’s stock valued at $2,099,000 after acquiring an additional 17,589 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of AudioCodes in the third quarter worth about $1,618,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Price Performance

AUDC traded up $0.20 on Friday, hitting $9.30. 37,849 shares of the stock were exchanged, compared to its average volume of 78,326. AudioCodes has a 12 month low of $7.70 and a 12 month high of $14.45. The firm has a market capitalization of $281.02 million, a price-to-earnings ratio of 23.25 and a beta of 0.86. The business has a 50-day moving average of $9.16 and a two-hundred day moving average of $9.92.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AUDC shares. StockNews.com cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Barclays lowered their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC reduced their target price on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

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.