Ribbon Communications (NASDAQ:RBBN) Now Covered by JMP Securities

JMP Securities initiated coverage on shares of Ribbon Communications (NASDAQ:RBBN) in a research note issued to investors on Monday, StockNewsAPI reports. The brokerage issued a mkt outperform rating and a $6.00 price target on the communications equipment provider’s stock.

A number of other analysts also recently weighed in on the stock. B. Riley upped their price target on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a buy rating in a report on Thursday, April 25th. StockNews.com raised shares of Ribbon Communications from a hold rating to a buy rating in a research note on Saturday, March 9th.

Ribbon Communications Stock Up 1.0 %

NASDAQ RBBN opened at $3.16 on Monday. The company has a market cap of $542.67 million, a price-to-earnings ratio of -9.03 and a beta of 1.19. Ribbon Communications has a 1-year low of $1.78 and a 1-year high of $3.65. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $2.96 and a 200-day moving average of $2.70.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. On average, equities research analysts expect that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Ribbon Communications

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

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. bought a new position in shares of Ribbon Communications during the 4th quarter worth approximately $33,000. Principal Financial Group Inc. bought a new position in Ribbon Communications during the third quarter worth $35,000. NewEdge Wealth LLC acquired a new stake in Ribbon Communications in the fourth quarter worth $40,000. Vestmark Advisory Solutions Inc. bought a new stake in Ribbon Communications in the fourth quarter valued at $40,000. Finally, Caxton Associates LP bought a new stake in Ribbon Communications in the third quarter valued at $41,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.