Inspire Investing LLC Invests $844,000 in Ribbon Communications Inc. (NASDAQ:RBBN)

Inspire Investing LLC purchased a new position in Ribbon Communications Inc. (NASDAQ:RBBN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 202,858 shares of the communications equipment provider’s stock, valued at approximately $844,000. Inspire Investing LLC owned approximately 0.12% of Ribbon Communications at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 5,122 shares in the last quarter. Barclays PLC raised its position in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ribbon Communications by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after acquiring an additional 27,999 shares in the last quarter. State Street Corp raised its position in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after acquiring an additional 7,963 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ribbon Communications by 1.9% in the 3rd 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. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Stock Down 2.1 %

Ribbon Communications stock opened at $4.11 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The business’s 50-day simple moving average is $4.01 and its two-hundred day simple moving average is $3.59. The company has a market cap of $720.81 million, a PE ratio of -12.84 and a beta of 1.12. Ribbon Communications Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $4.39.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $210.00 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.03 EPS. Equities analysts anticipate that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

RBBN has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities upped their target price on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.00.

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.