01 · Challenge
The Challenge
AudioCodes had been performing well, growing revenues and profits, but its success wasn’t reflected in its share price, institutional shareholder interest was low and there was little interest from the sell side. AudioCodes engaged Hayden IR in early 2019 to help expand its shareholder base and increase investor interest so the company’s opportunity would be better reflected in its stock price.
02 · Solution
Our Solution
- Developed a communications strategy to target institutional investors and generate interest in the stock
- Introduced management to numerous institutional investors to hear the story
- Introduced management to sell-side analysts to increase research coverage
- Supported the company through a successful secondary offering that raised $86 million
03 · Impact
The Impact
- Stock increased more than 8x, from $6 when Hayden IR was engaged to a high of $45 in just over two years
- Average trading volume increased from approximately 250K shares to approximately 550K in less than two years
- Institutional investors increased from 35% of total shares to 45% in six quarters
- New research coverage initiated by Bank of America, Jefferies, Sidoti and Barclays
Past results are not indicative of future performance. Figures are as reported in Hayden IR’s case study for AudioCodes. See our disclosures.
