Radcom (NASDAQ:RDCM) Stock Breaks Below 200 Day Moving Average – Here’s What Happened

Radcom Ltd. (NASDAQ:RDCM)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $12.47 and traded as low as $10.22. Radcom shares last traded at $10.30, with a volume of 28,407 shares.

Analyst Ratings Changes

RDCM has been the subject of several recent analyst reports. Needham & Company LLC dropped their price objective on shares of Radcom from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings lowered shares of Radcom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 9th. Zacks Research lowered shares of Radcom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised Radcom from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Radcom Price Performance

The company has a market capitalization of $172.25 million, a price-to-earnings ratio of 24.50 and a beta of 0.76. The stock has a 50-day moving average price of $10.21 and a 200-day moving average price of $12.46.

Radcom (NASDAQ:RDCM) last announced its earnings results on Wednesday, August 12th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.33). Radcom had a return on equity of 6.51% and a net margin of 10.47%.The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $15.57 million. Equities analysts forecast that Radcom Ltd. will post -0.03 earnings per share for the current year.

Radcom announced that its board has initiated a share buyback plan on Thursday, September 17th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the technology company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Radcom

A number of hedge funds have recently added to or reduced their stakes in RDCM. Private Advisor Group LLC increased its stake in Radcom by 2.1% in the first quarter. Private Advisor Group LLC now owns 351,019 shares of the technology company’s stock valued at $4,268,000 after acquiring an additional 7,372 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Radcom by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 327,479 shares of the technology company’s stock valued at $3,982,000 after purchasing an additional 5,380 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Radcom during the first quarter worth $369,000. Lazard Asset Management LLC bought a new stake in Radcom during the 1st quarter worth $236,000. Finally, Public Employees Retirement System of Ohio bought a new position in Radcom in the second quarter valued at about $35,000. Institutional investors own 48.32% of the company’s stock.

About Radcom

Radcom Ltd. (NASDAQ: RDCM) is an Israel-based provider of cloud-native service assurance and network intelligence solutions for communication service providers. Founded in 1991, the company develops software that helps telecommunications operators monitor network performance, identify service issues and improve customer experience across complex, evolving networks.

Radcom’s product portfolio is designed to support 4G and 5G mobile networks, cloud-based network functions and other virtualized telecommunications environments.