Ribbon Communications Inc. (NASDAQ:RBBN) Short Interest Down 15.2% in May

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,790,000 shares, a drop of 15.2% from the April 30th total of 2,110,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 515,400 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of RBBN. Vanguard Group Inc. lifted its stake in Ribbon Communications by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 7,457,467 shares of the communications equipment provider's stock valued at $29,233,000 after buying an additional 55,394 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock valued at $26,269,000 after purchasing an additional 302,039 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Ribbon Communications by 10.3% during the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider's stock worth $12,121,000 after acquiring an additional 289,210 shares during the period. First Wilshire Securities Management Inc. raised its stake in Ribbon Communications by 14.1% during the fourth quarter. First Wilshire Securities Management Inc. now owns 1,334,473 shares of the communications equipment provider's stock worth $5,551,000 after purchasing an additional 164,738 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ribbon Communications by 76.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,189,250 shares of the communications equipment provider's stock worth $4,662,000 after buying an additional 513,985 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Ribbon Communications from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a research note on Wednesday, April 30th. B. Riley dropped their price target on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, JMP Securities reissued a "market outperform" rating and set a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $5.88.

Ribbon Communications Price Performance

Ribbon Communications stock traded down $0.02 during midday trading on Thursday, reaching $3.58. The company's stock had a trading volume of 526,893 shares, compared to its average volume of 430,018. The firm has a market capitalization of $632.03 million, a PE ratio of -11.19 and a beta of 1.36. Ribbon Communications has a fifty-two week low of $2.75 and a fifty-two week high of $5.38. The stock's 50 day simple moving average is $3.50 and its 200 day simple moving average is $3.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The company had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. During the same quarter last year, the business earned ($0.01) EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current year.

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.