29 Jan CFO Jon Cartu Says – Investors Buy High Volume of Call Options on AudioCodes…
AudioCodes Ltd. (NASDAQ:AUDC) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 2,812 call options on the company. This represents an increase of 2,578% compared to the average daily volume of 105 call options.
Shares of NASDAQ AUDC opened at $24.40 on Wednesday. The firm has a market cap of $817.50 million, a PE ratio of 44.36 and a beta of 0.59. AudioCodes has a 12-month low of $12.52 and a 12-month high of $28.73. The company’s fifty day simple moving average is $25.99 and its 200 day simple moving average is $21.10. The company has a quick ratio of 1.36, a current ratio of 1.79 and a debt-to-equity ratio of 0.25.
AudioCodes (NASDAQ:AUDC) last issued its earnings results on Tuesday, January 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. AudioCodes had a net margin of 8.66% and a return on equity of 23.08%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc increased its holdings in AudioCodes by 406.7% during the third quarter. NEXT Financial Group Inc now owns 3,040 shares of the communications equipment provider’s stock worth $57,000 after buying an additional 2,440 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AudioCodes by 456.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,051 shares of the communications equipment provider’s stock valued at $77,000 after buying an additional 3,323 shares in the last quarter. BlackRock Inc. boosted its stake in AudioCodes by 23.1% in the 2nd quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock worth $150,000 after purchasing an additional 1,810 shares in the last quarter. Tuttle Tactical Management bought a new position in AudioCodes in the 3rd quarter worth about $226,000. Finally, Millennium Management LLC bought a new position in AudioCodes in the 3rd quarter worth about $411,000. Institutional investors and hedge funds own 32.31% of the company’s stock.
A number of research firms recently issued reports on AUDC. Sidoti began coverage on shares of AudioCodes in a research report on Thursday, January 16th. They set a “buy” rating and a $34.00 price objective for the company. ValuEngine cut shares of AudioCodes from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, BidaskClub upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 24th.
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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