28 Jul AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 62.8% in …
AudioCodes Ltd. (NASDAQ:AUDC) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 47,000 shares, a decline of 62.8% from the June 15th total of 126,200 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 188,900 shares, the days-to-cover ratio is presently 0.2 days.
Several large investors have recently added to or reduced their stakes in AUDC. BlackRock Inc. grew its position in shares of AudioCodes by 119.4% in the 4th quarter. BlackRock Inc. now owns 6,061 shares of the communications equipment provider’s stock worth $60,000 after buying an additional 3,299 shares during the period. Barclays PLC boosted its stake in AudioCodes by 137.9% in the 4th quarter. Barclays PLC now owns 15,690 shares of the communications equipment provider’s stock worth $155,000 after purchasing an additional 9,095 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in AudioCodes in the 4th quarter worth about $121,000. Millennium Management LLC boosted its stake in AudioCodes by 39.9% in the 4th quarter. Millennium Management LLC now owns 296,336 shares of the communications equipment provider’s stock worth $2,928,000 after purchasing an additional 84,554 shares in the last quarter. Finally, Norges Bank bought a new position in AudioCodes in the 4th quarter worth about $4,107,000. 31.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Needham & Company LLC upped their target price on shares of AudioCodes to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd.
NASDAQ:AUDC opened at $18.79 on Friday. The stock has a 50-day simple moving average of $15.99. The stock has a market cap of $551.43 million, a P/E ratio of 27.63 and a beta of 0.59. The company has a quick ratio of 1.37, a current ratio of 1.73 and a debt-to-equity ratio of 0.29. AudioCodes has a 1-year low of $9.00 and a 1-year high of $18.85.
AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, July 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $49.50 million for the quarter. AudioCodes had a net margin of 8.86% and a return on equity of 21.61%.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company’s products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.
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