AudioCodes (NASDAQ:AUDC) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.67 and traded as high as $10.06. AudioCodes shares last traded at $10.04, with a volume of 135,460 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

AudioCodes Stock Up 4.5%

The stock has a market cap of $255.56 million, a price-to-earnings ratio of 40.16 and a beta of 0.96. The company’s 50-day moving average is $9.23 and its 200-day moving average is $8.67.

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

Institutional Investors Weigh In On AudioCodes

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in AudioCodes in the second quarter valued at about $43,000. Barclays PLC grew its position in AudioCodes by 3,621.4% during the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 7,098 shares during the last quarter. Jump Financial LLC bought a new stake in AudioCodes during the 2nd quarter worth approximately $127,000. NewEdge Advisors LLC acquired a new stake in AudioCodes during the 4th quarter valued at $150,000. Finally, SIH Partners LLLP bought a new position in AudioCodes in the 3rd quarter valued at $170,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Company Profile

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.