Ribbon Communications (NASDAQ:RBBN) Trading Down 2.8% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Ribbon Communications Price Performance

The company’s 50-day moving average is $3.90 and its 200-day moving average is $3.45. The firm 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 debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results 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). The company had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. On average, research analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

A number of large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after purchasing an additional 102,969 shares during the period. Geode Capital Management LLC lifted its position in Ribbon Communications by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock valued at $6,830,000 after buying an additional 27,999 shares in the last quarter. State Street Corp grew its stake in Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after buying an additional 7,963 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Ribbon Communications by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock worth $2,479,000 after acquiring an additional 13,984 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Ribbon Communications in the 3rd quarter valued at $34,000. 70.92% of the stock is currently 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.