AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 223,000 shares, a growth of 55.6% from the September 30th total of 143,300 shares. Based on an average trading volume of 221,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.1% of the shares of the stock are sold short.

AUDC opened at $21.35 on Thursday. The firm has a market capitalization of $625.52 million, a PE ratio of 29.37 and a beta of 0.55. AudioCodes has a twelve month low of $9.00 and a twelve month high of $22.50. The firm’s 50-day moving average price is $19.50 and its 200 day moving average price is $17.33. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, October 29th. The communications equipment provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. AudioCodes had a net margin of 8.66% and a return on equity of 23.08%. The firm had revenue of $51.41 million for the quarter.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of AudioCodes to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. BidaskClub upgraded shares of AudioCodes from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, ValuEngine upgraded shares of AudioCodes from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in AudioCodes by 23.1% during the second quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock worth $150,000 after purchasing an additional 1,810 shares during the period. Qtron Investments LLC raised its stake in AudioCodes by 9.9% during the second quarter. Qtron Investments LLC now owns 22,586 shares of the communications equipment provider’s stock worth $350,000 after purchasing an additional 2,028 shares during the period. State of New Jersey Common Pension Fund D raised its stake in AudioCodes by 7.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 34,114 shares of the communications equipment provider’s stock worth $645,000 after purchasing an additional 2,378 shares during the period. NEXT Financial Group Inc raised its stake in AudioCodes by 406.7% during the third quarter. NEXT Financial Group Inc now owns 3,040 shares of the communications equipment provider’s stock worth $57,000 after purchasing an additional 2,440 shares during the period. Finally, Vanguard Group Inc. raised its stake in AudioCodes by 0.6% during the second quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after purchasing an additional 2,762 shares during the period. 30.83% of the stock is currently owned by institutional investors.

About AudioCodes

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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