StockNews.com Downgrades Ribbon Communications (NASDAQ:RBBN) to Buy

Ribbon Communications (NASDAQ:RBBN) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other equities analysts have also commented on RBBN. JMP Securities reissued a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research report on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Finally, Northland Securities raised their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Trading Down 3.4 %

NASDAQ:RBBN traded down $0.14 during trading hours on Monday, hitting $3.92. The company had a trading volume of 558,491 shares, compared to its average volume of 405,078. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The stock has a 50-day moving average price of $4.28 and a 200 day moving average price of $3.92. The company has a market capitalization of $688.84 million, a PE ratio of -12.25 and a beta of 1.23. Ribbon Communications has a 52 week low of $2.47 and a 52 week high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, equities research analysts predict that Ribbon Communications will post 0.18 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter valued at approximately $43,000. Intech Investment Management LLC bought a new position in Ribbon Communications in the 3rd quarter valued at approximately $34,000. Polymer Capital Management US LLC purchased a new stake in Ribbon Communications during the 4th quarter valued at $55,000. Penn Capital Management Company LLC purchased a new position in shares of Ribbon Communications in the fourth quarter worth $56,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Ribbon Communications in the fourth quarter worth $59,000. 70.92% of the stock is currently owned by institutional investors.

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.