Short Interest in AudioCodes Ltd. (NASDAQ:AUDC) Increases By 14.9%

AudioCodes Ltd. (NASDAQ:AUDC) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 160,400 shares, a growth of 14.9% from the December 31st total of 139,600 shares. Based on an average daily volume of 88,800 shares, the short-interest ratio is currently 1.8 days. Currently, 0.8% of the shares of the stock are short sold.

AudioCodes Stock Down 0.5 %

Shares of AudioCodes stock opened at $10.15 on Friday. The firm has a market cap of $306.70 million, a PE ratio of 25.38 and a beta of 0.81. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The business’s fifty day simple moving average is $9.82 and its 200-day simple moving average is $9.82.

Hedge Funds Weigh In On AudioCodes

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of AudioCodes during the 3rd quarter worth about $1,618,000. JPMorgan Chase & Co. lifted its stake in AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after purchasing an additional 50,704 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in AudioCodes in the third quarter valued at approximately $595,000. Marshall Wace LLP raised its holdings in AudioCodes by 37.5% during the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after purchasing an additional 7,009 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of AudioCodes by 11.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after buying an additional 9,150 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AUDC. Barclays lowered 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. StockNews.com downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of AudioCodes in a report on Tuesday, January 21st.

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.