Ribbon Communications (NASDAQ:RBBN) Stock Price Down 4.8% – What’s Next?

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price traded down 4.8% during trading on Thursday . The company traded as low as $3.94 and last traded at $3.96. 190,291 shares traded hands during trading, a decline of 48% from the average session volume of 368,596 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

Several research firms recently issued reports on RBBN. Northland Securities increased their target price on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research report on Monday. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Stock Down 4.8 %

The business has a 50-day moving average price of $3.96 and a 200 day moving average price of $3.49. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $694.52 million, a P/E ratio of -12.37 and a beta of 1.14.

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

Institutional Trading of Ribbon Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Ribbon Communications during the third quarter worth $34,000. MQS Management LLC purchased a new stake in Ribbon Communications in the 2nd quarter valued at about $100,000. SG Americas Securities LLC boosted its position in Ribbon Communications by 81.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 15,604 shares during the period. Sanctuary Advisors LLC bought a new position in Ribbon Communications in the 2nd quarter worth about $132,000. Finally, AQR Capital Management LLC purchased a new position in shares of Ribbon Communications during the second quarter worth approximately $137,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

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.