Ribbon Communications (NASDAQ:RBBN) Shares Gap Down to $3.58

Ribbon Communications Inc. (NASDAQ:RBBNGet Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $3.58, but opened at $3.40. Ribbon Communications shares last traded at $3.58, with a volume of 243,875 shares changing hands.

Analyst Ratings Changes

RBBN has been the topic of several research reports. StockNews.com raised Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 14th. TheStreet raised Ribbon Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 16th. B. Riley lifted their target price on Ribbon Communications from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Finally, Westpark Capital raised Ribbon Communications from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, January 23rd.

Ribbon Communications Stock Up 1.1 %

The company has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $3.05. The company has a quick ratio of 1.18, a current ratio of 1.42 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $608.59 million, a P/E ratio of -5.40 and a beta of 1.08.

Institutional Investors Weigh In On Ribbon Communications

Large investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP increased its stake in Ribbon Communications by 20.7% during the third quarter. Brandes Investment Partners LP now owns 292,443 shares of the communications equipment provider’s stock worth $649,000 after acquiring an additional 50,114 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Ribbon Communications during the third quarter valued at approximately $83,000. Federated Hermes Inc. grew its stake in shares of Ribbon Communications by 13.1% during the second quarter. Federated Hermes Inc. now owns 1,462,123 shares of the communications equipment provider’s stock valued at $4,446,000 after buying an additional 168,910 shares during the last quarter. Herald Investment Management Ltd grew its stake in shares of Ribbon Communications by 30.1% during the third quarter. Herald Investment Management Ltd now owns 1,415,869 shares of the communications equipment provider’s stock valued at $3,142,000 after buying an additional 327,869 shares during the last quarter. Finally, Dfpg Investments LLC bought a new position in shares of Ribbon Communications during the third quarter valued at approximately $142,000. 86.72% of the stock is owned by institutional investors.

Ribbon Communications Company Profile

(Get Rating)

Ribbon Communications, Inc delivers communications software, IP and optical networking solutions to service providers, enterprises, and infrastructure sectors. It operates through the following segments: Cloud & Edge and IP Optical Networks. The Cloud and Edge segment provides secure and reliable software and hardware products, solutions, and services for enabling Voice over Internet Protocol (VoIP) communications, Voice over Long-Term Evolution (VoLTE) and Voice Over 5G (VoNR) communications, and Unified Communications and Collaboration (UC&C) within service provider and enterprise networks and from the cloud.

Further Reading

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