AudioCodes (NASDAQ:AUDC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of AudioCodes Ltd. (NASDAQ:AUDC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.54 and traded as high as $9.27. AudioCodes shares last traded at $9.08, with a volume of 192,523 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

AudioCodes Stock Down 0.4%

The stock has a market cap of $231.09 million, a P/E ratio of 36.32 and a beta of 0.95. The stock has a fifty day simple moving average of $8.71 and a 200-day simple moving average of $8.54.

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

Institutional Investors Weigh In On AudioCodes

A number of hedge funds have recently modified their holdings of AUDC. Cubist Systematic Strategies LLC raised its position in shares of AudioCodes by 56.0% during the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 7,052 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of AudioCodes during the first quarter worth about $412,000. Jane Street Group LLC raised its position in shares of 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 period. JPMorgan Chase & Co. raised its position in shares of 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 period. Finally, Marshall Wace LLP raised its position in shares of 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.