Ribbon Communications (NASDAQ:RBBN) Stock Price Down 2.8% – Time to Sell?

Ribbon Communications Inc. (NASDAQ:RBBN) shares fell 2.8% during trading on Thursday . The company traded as low as $4.17 and last traded at $4.18. 11,305 shares were traded during trading, a decline of 97% from the average session volume of 368,276 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RBBN. Northland Securities increased their target price on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $5.88.

Ribbon Communications Stock Down 4.7 %

The company has a market capitalization of $719.07 million, a price-to-earnings ratio of -12.81 and a beta of 1.14. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average price of $3.90 and a two-hundred day moving average price of $3.45.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. During the same quarter last year, the business earned $0.03 EPS. Ribbon Communications’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new position in Ribbon Communications during the 3rd quarter valued at $34,000. MQS Management LLC acquired a new stake in shares of Ribbon Communications in the 2nd quarter valued at about $100,000. SG Americas Securities LLC lifted its position in shares of Ribbon Communications by 81.3% during the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after purchasing an additional 15,604 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Ribbon Communications in the second quarter worth about $132,000. Finally, AQR Capital Management LLC bought a new stake in Ribbon Communications in the second quarter valued at about $137,000. Institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

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.