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

AudioCodes Ltd. (NASDAQ:AUDC)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.48 and traded as high as $9.51. AudioCodes shares last traded at $9.31, with a volume of 102,068 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of AudioCodes in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Zacks Research upgraded shares of AudioCodes from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.25.

AudioCodes Price Performance

The business’s 50 day simple moving average is $9.70 and its 200 day simple moving average is $9.48. The stock has a market cap of $267.01 million, a P/E ratio of 20.69 and a beta of 0.96.

AudioCodes Dividend Announcement

The business also recently declared a half year 25 dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a yield of 350.0%. AudioCodes’s payout ratio is currently 88.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of AudioCodes in the 2nd quarter worth about $43,000. Jump Financial LLC acquired a new position in AudioCodes in the second quarter valued at about $127,000. Cubist Systematic Strategies LLC grew its stake in AudioCodes by 56.0% during the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 7,052 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of AudioCodes by 4.3% during the third quarter. Exchange Traded Concepts LLC now owns 27,217 shares of the communications equipment provider’s stock worth $259,000 after buying an additional 1,132 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AudioCodes by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock worth $386,000 after buying an additional 10,877 shares in the last quarter. 68.05% of the stock is owned by institutional investors.

AudioCodes Company Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.