Ribbon Communications (NASDAQ:RBBN) Stock Price Down 4.8% – Time to Sell?

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price fell 4.8% during mid-day trading on Thursday . The stock traded as low as $3.94 and last traded at $3.96. 190,291 shares changed hands during trading, a decline of 48% from the average session volume of 368,596 shares. The stock had previously closed at $4.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities increased their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.00.

Ribbon Communications Trading Up 2.0 %

The company has a 50 day moving average of $3.97 and a 200 day moving average of $3.50. The firm has a market cap of $708.55 million, a P/E ratio of -12.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.17 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in RBBN. Bank of New York Mellon Corp boosted its stake in Ribbon Communications by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock valued at $1,429,000 after buying an additional 31,644 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Ribbon Communications by 4.6% in the second quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock valued at $502,000 after acquiring an additional 6,668 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ribbon Communications by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock valued at $19,012,000 after purchasing an additional 270,972 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Ribbon Communications in the second quarter worth $247,000. Finally, XTX Topco Ltd grew its holdings in shares of Ribbon Communications by 6.3% during the second quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock worth $263,000 after purchasing an additional 4,746 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.