AudioCodes Ltd. Sees Significant Decline in Short Interest

AudioCodes Ltd. (NASDAQ:AUDC) experienced a notable drop in short interest during December. As of December 15th, the total short interest amounted to 139,600 shares, reflecting a substantial decrease of 36.9% from the previous total of 221,200 shares as of November 30th. At this time, approximately 0.7% of the company’s total shares are reported to be sold short. Given the average trading volume of 80,300 shares, the days-to-cover ratio currently stands at 1.7 days.

AudioCodes Price Performance

On Friday, shares of NASDAQ AUDC traded down $0.11, bringing the stock price to $9.43. During the trading session, 51,584 shares exchanged hands, in contrast to the average trading volume of 77,920 shares. The company showcases a 50-day moving average price of $9.12 and a 200-day moving average price of $9.85. With a market capitalization of $284.95 million, AudioCodes has a price-to-earnings ratio of 23.58 and a beta of 0.84. Over the past year, the stock has reached a low of $7.70 and a high of $14.45.

Wall Street Analysts Forecast Growth

Recently, AUDC has attracted attention from various research firms. Needham & Company LLC lowered its price target on AudioCodes shares from $14.00 to $11.00, while designating a "buy" rating in a report released on November 7th. Similarly, Barclays reduced their price target for the stock from $10.00 to $9.00, issuing an "underweight" rating on the same day. Conversely, StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a report published on December 16th.

Institutional Investors Weigh In On AudioCodes

Recently, large institutional investors have adjusted their stakes in AudioCodes. XTX Topco Ltd acquired a new position valued around $143,000 in the second quarter. DGS Capital Management LLC increased its stake by 72.8% during the third quarter, resulting in ownership of 21,672 shares worth $211,000 after purchasing an additional 9,133 shares. Similarly, Marshall Wace LLP raised its holdings by 37.5% in the second quarter, owning 25,683 shares valued at $267,000 after buying an extra 7,009 shares. Bank of New York Mellon Corp enhanced its position by 11.3% in the second quarter, holding 53,105 shares worth $551,000 after an additional purchase of 5,389 shares. Additionally, the Public Employees Retirement System of Ohio acquired a new stake valued at approximately $595,000 in the third quarter. Currently, institutional investors hold around 68.05% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd. specializes in providing advanced communication software, products, and productivity solutions to support a digital workplace globally. The company’s portfolio includes solutions for unified communications, contact centers, hosted business services, Voice.AI, and service provider operations. Their offerings consist of session border controllers, lifecycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phone solutions, and various professional services.

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AudioCodes, ShortInterest, Trading