Ribbon Communications (NASDAQ:RBBN) Shares Gap Up to $2.57

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) gapped up prior to trading on Wednesday . The stock had previously closed at $2.57, but opened at $2.90. Ribbon Communications shares last traded at $3.11, with a volume of 1,025,098 shares.

Analysts Set New Price Targets

A number of brokerages have commented on RBBN. StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. B. Riley boosted their price objective on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday.

Ribbon Communications Stock Down 0.3 %

The company’s 50-day moving average price is $2.98 and its two-hundred day moving average price is $2.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00.

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

Insider Transactions at Ribbon Communications

In other Ribbon Communications news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $2.89 per share, with a total value of $289,000.00. Following the transaction, the director now directly owns 590,175 shares in the company, valued at $1,705,605.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Dan Redington sold 23,964 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $3.09, for a total transaction of $74,048.76. Following the completion of the sale, the executive vice president now owns 101,291 shares of the company’s stock, valued at approximately $312,989.19. The sale 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 stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $2.89 per share, with a total value of $289,000.00. Following the transaction, the director now owns 590,175 shares in the company, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 103,000 shares of company stock valued at $297,720 and sold 66,000 shares valued at $205,119. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ribbon Communications

A number of institutional investors have recently modified their holdings of the business. Brown Advisory Inc. acquired a new position in Ribbon Communications during the 4th quarter valued at about $33,000. Principal Financial Group Inc. acquired a new position in Ribbon Communications during the 3rd quarter valued at about $35,000. NewEdge Wealth LLC acquired a new position in Ribbon Communications during the 4th quarter valued at about $40,000. Vestmark Advisory Solutions Inc. acquired a new position in Ribbon Communications during the 4th quarter valued at about $40,000. Finally, Caxton Associates LP acquired a new position in Ribbon Communications during the 3rd quarter valued at about $41,000. Institutional investors 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.