Ribbon Communications (NASDAQ:RBBN) PT Raised to $6.50

Ribbon Communications (NASDAQ:RBBN) had its price target lifted by B. Riley from $6.00 to $6.50 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Separately, StockNews.com raised shares of Ribbon Communications from a hold rating to a buy rating in a research report on Saturday, March 9th.

Ribbon Communications Trading Down 3.4 %

Shares of NASDAQ:RBBN traded down $0.11 during trading on Thursday, reaching $3.13. The stock had a trading volume of 380,811 shares, compared to its average volume of 446,994. The business has a fifty day moving average price of $2.98 and a 200-day moving average price of $2.69. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 0.44. The stock has a market cap of $537.51 million, a P/E ratio of -8.91 and a beta of 1.19. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.65.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $226.40 million during the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. As a group, analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Ribbon Communications

In related news, Director Bruns H. Grayson bought 100,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares in the company, valued at $1,705,605.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the sale, the executive vice president now directly owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruns H. Grayson acquired 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the purchase, the director now owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ribbon Communications

Several institutional investors have recently bought and sold shares of RBBN. Paradigm Capital Management Inc. NY lifted its position in shares of Ribbon Communications by 6.8% during the third quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after purchasing an additional 477,047 shares in the last quarter. Silverberg Bernstein Capital Management LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth $1,176,000. Victory Capital Management Inc. lifted its position in shares of Ribbon Communications by 1,411.5% during the third quarter. Victory Capital Management Inc. now owns 228,154 shares of the communications equipment provider’s stock worth $611,000 after purchasing an additional 213,059 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Ribbon Communications by 43.4% during the fourth quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock worth $1,859,000 after purchasing an additional 193,829 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Ribbon Communications during the fourth quarter worth $387,000. 70.92% of the stock is currently owned by hedge funds and other 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.