14 Dec Expert Jonathan Cartu Writes – AudioCodes (NASDAQ:AUDC) Upgraded to Buy by BidaskClub
Separately, ValuEngine lowered AudioCodes from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd.
AudioCodes stock traded down $0.43 during midday trading on Friday, reaching $24.69. The stock had a trading volume of 253,300 shares, compared to its average volume of 229,336. The firm’s fifty day simple moving average is $22.41 and its 200-day simple moving average is $18.63. AudioCodes has a 1-year low of $9.00 and a 1-year high of $25.63. The stock has a market capitalization of $714.51 million, a P/E ratio of 33.55 and a beta of 0.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.36 and a current ratio of 1.79.
AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, October 29th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%. The business had revenue of $51.41 million for the quarter.
Institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc raised its position in AudioCodes by 406.7% in the 3rd quarter. NEXT Financial Group Inc now owns 3,040 shares of the communications equipment provider’s stock valued at $57,000 after buying an additional 2,440 shares during the last quarter. Tower Research Capital LLC TRC raised its position in AudioCodes by 456.5% in 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 during the last quarter. BlackRock Inc. grew its stake in AudioCodes by 23.1% in the second quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock valued at $150,000 after purchasing an additional 1,810 shares in the last quarter. Tuttle Tactical Management bought a new position in AudioCodes in the third quarter valued at approximately $226,000. Finally, OMERS ADMINISTRATION Corp bought a new position in AudioCodes in the second quarter valued at approximately $235,000. 32.65% of the stock is currently owned by institutional investors and hedge funds.
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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