AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Up 14.9% in December

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

Wall Street Analysts Forecast Growth

AUDC has been the subject of a number of research reports. StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th. Needham & Company LLC dropped their price objective 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. Finally, Barclays reduced their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th.

AudioCodes Price Performance

Shares of NASDAQ:AUDC traded up $0.23 during trading on Friday, hitting $10.74. The company had a trading volume of 52,248 shares, compared to its average volume of 81,458. The stock has a market cap of $324.56 million, a price-to-earnings ratio of 26.85 and a beta of 0.81. The company has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $9.84. AudioCodes has a one year low of $7.70 and a one year high of $14.45.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AUDC. Bank of New York Mellon Corp raised its position in AudioCodes by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock worth $551,000 after purchasing an additional 5,389 shares during the period. Marshall Wace LLP lifted its stake in AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after acquiring an additional 7,009 shares during the period. DGS Capital Management LLC lifted its position in shares of AudioCodes by 72.8% in the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 9,133 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 valued at $893,000 after acquiring an additional 9,150 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in AudioCodes in the second quarter worth about $143,000. Institutional investors own 68.05% of the company’s stock.

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.