Ribbon Communications (NASDAQ:RBBN) Shares Down 4.5% - Should You Sell?

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report)'s stock price traded down 4.5% during trading on Wednesday . The stock traded as low as $3.63 and last traded at $3.65. 114,719 shares traded hands during trading, a decline of 73% from the average session volume of 426,950 shares. The stock had previously closed at $3.82.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RBBN shares. Rosenblatt Securities reiterated 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 decreased their price target on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, Wall Street Zen lowered Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ribbon Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.88.

Ribbon Communications Stock Performance

The company has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $3.92. 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 market cap of $651.45 million, a P/E ratio of -11.53 and a beta of 1.31.

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

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. Walleye Capital LLC purchased a new position in Ribbon Communications during the fourth quarter valued at $43,000. Polymer Capital Management US LLC bought a new position in shares of Ribbon Communications during the fourth quarter valued at $55,000. Penn Capital Management Company LLC purchased a new position in shares of Ribbon Communications in the 4th quarter worth about $56,000. Allianz Asset Management GmbH bought a new position in Ribbon Communications in the 1st quarter worth about $57,000. Finally, Renaissance Technologies LLC bought a new position in Ribbon Communications in the 4th quarter worth about $59,000. 70.92% of the stock is 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.