AudioCodes (NASDAQ:AUDC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.54 and traded as high as $9.27. AudioCodes shares last traded at $9.08, with a volume of 192,523 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

AudioCodes Stock Performance

The stock has a market cap of $231.09 million, a price-to-earnings ratio of 36.32 and a beta of 0.95. The company has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $8.54.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Heartland Advisors Inc. increased its position in shares of AudioCodes by 15.5% during the 3rd quarter. Heartland Advisors Inc. now owns 1,028,850 shares of the communications equipment provider’s stock worth $9,795,000 after purchasing an additional 138,300 shares during the last quarter. XTX Topco Ltd bought a new position in shares of AudioCodes during the 4th quarter worth approximately $202,000. Cubist Systematic Strategies LLC boosted its stake in shares of AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 7,052 shares during the period. WINTON GROUP Ltd bought a new position in shares of AudioCodes during the 4th quarter worth approximately $175,000. Finally, SIH Partners LLLP bought a new position in shares of AudioCodes during the 3rd quarter worth approximately $170,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

About AudioCodes

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.