magicJack VocalTec Ltd (NASDAQ:CALL) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

magicJack VocalTec (CALL) traded up $2.67 during trading on Thursday, hitting $8.33. The company had a trading volume of 5,582,082 shares, compared to its average volume of 129,467. magicJack VocalTec has a fifty-two week low of $5.55 and a fifty-two week high of $8.90. The company has a market capitalization of $92.65, a PE ratio of 8.33 and a beta of 0.53.

magicJack VocalTec (NASDAQ:CALL) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The business had revenue of $22.40 million during the quarter, compared to analysts’ expectations of $21.90 million. magicJack VocalTec had a positive return on equity of 23.63% and a negative net margin of 23.97%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share.

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A number of hedge funds have recently made changes to their positions in CALL. Citadel Advisors LLC increased its position in magicJack VocalTec by 110.1% in the third quarter. Citadel Advisors LLC now owns 39,718 shares of the technology company’s stock worth $284,000 after purchasing an additional 20,818 shares during the period. Fondren Management LP increased its position in magicJack VocalTec by 476.7% in the second quarter. Fondren Management LP now owns 144,163 shares of the technology company’s stock worth $1,038,000 after purchasing an additional 119,163 shares during the period. Sterling Capital Management LLC increased its position in magicJack VocalTec by 47.8% in the second quarter. Sterling Capital Management LLC now owns 145,371 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 47,000 shares during the period. Macquarie Group Ltd. increased its position in magicJack VocalTec by 45.3% in the third quarter. Macquarie Group Ltd. now owns 179,035 shares of the technology company’s stock worth $1,280,000 after purchasing an additional 55,835 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in magicJack VocalTec by 80.2% in the first quarter. Goldman Sachs Group Inc. now owns 168,639 shares of the technology company’s stock worth $1,442,000 after purchasing an additional 75,077 shares during the period. Hedge funds and other institutional investors own 43.43% of the company’s stock.

About magicJack VocalTec

magicJack VocalTec Ltd. and its subsidiaries is a cloud communications company. The Company provides magicJack devices and other magicJack products and services. The Company also provides additional products and services, which include voice applications on smart phones, as well as the magicJack PLUS, magicJack GO and magicJack EXPRESS, which are updated versions of the magicJack device that have their own central processing unit (CPU) and can connect a regular phone directly to the users broadband modem/router and function as a standalone phone without using a computer.

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