Ribbon Communications (NASDAQ:RBBN) Coverage Initiated at JMP Securities

JMP Securities initiated coverage on shares of Ribbon Communications (NASDAQ:RBBN - Get Free Report) in a note issued to investors on Monday, StockNewsAPI reports. The brokerage set a "mkt outperform" rating and a $6.00 price target on the communications equipment provider's stock. JMP Securities' target price would indicate a potential upside of 89.87% from the company's previous close.

RBBN has been the topic of a number of other reports. StockNews.com raised shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research note 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 research report on Thursday.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock traded up $0.03 during trading on Monday, reaching $3.16. The company's stock had a trading volume of 746,448 shares, compared to its average volume of 453,287. The company has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.69. The firm has a market cap of $542.67 million, a PE ratio of -9.09 and a beta of 1.19. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.65. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. The business had revenue of $226.40 million for the quarter, compared to analysts' expectations of $233.63 million. On average, analysts forecast that Ribbon Communications will post 0.18 EPS for the current year.

Insider Buying and Selling at Ribbon Communications

In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $3.10, for a total value of $106,801.20. Following the transaction, the executive vice president now directly owns 66,839 shares in the company, valued at approximately $207,200.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Bruns H. Grayson acquired 100,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the acquisition, the director now directly owns 590,175 shares in the company, valued at approximately $1,705,605.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Redington sold 34,452 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.10, for a total transaction of $106,801.20. Following the transaction, the executive vice president now owns 66,839 shares in the company, valued at $207,200.90. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. 2.10% of the stock is owned by insiders.

Institutional Trading of Ribbon Communications

A number of institutional investors and hedge funds have recently bought and sold shares of RBBN. SG Americas Securities LLC acquired a new stake in Ribbon Communications during the 3rd quarter worth approximately $108,000. Principal Financial Group Inc. acquired a new stake in Ribbon Communications during the 3rd quarter worth approximately $35,000. Victory Capital Management Inc. increased its position in Ribbon Communications by 1,411.5% during the 3rd quarter. Victory Capital Management Inc. now owns 228,154 shares of the communications equipment provider's stock worth $611,000 after purchasing an additional 213,059 shares in the last quarter. Barclays PLC increased its position in Ribbon Communications by 34.3% during the 3rd quarter. Barclays PLC now owns 60,820 shares of the communications equipment provider's stock worth $162,000 after purchasing an additional 15,547 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Ribbon Communications by 22.0% during the 3rd quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider's stock worth $106,000 after purchasing an additional 7,146 shares in the last quarter. Institutional investors and hedge funds 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.