Sonus Networks Director Purchases $38,500 in Stock (SONS)
Sonus Networks (NASDAQ:SONS) Director John A. Schofield bought 11,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average cost of $3.50 per share, for a total transaction of $38,500.00. Following the completion of the acquisition, the director now directly owns 53,930 shares in the company, valued at approximately $188,755. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at William Blair initiated coverage on shares of Sonus Networks in a research note on Tuesday, April 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Sonus Networks has an average rating of “Buy” and an average target price of $4.21.
Shares of Sonus Networks (NASDAQ:SONS) opened at 3.69 on Friday. Sonus Networks has a one year low of $2.68 and a one year high of $3.98. The stock has a 50-day moving average of $3.33 and a 200-day moving average of $3.23. The company’s market cap is $914.3 million.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Thursday, April 24th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.02. The company had revenue of $70.74 million for the quarter, compared to the consensus estimate of $70.08 million. During the same quarter last year, the company posted ($0.02) earnings per share. Sonus Networks’s revenue was up 11.8% compared to the same quarter last year. Analysts expect that Sonus Networks will post $0.06 EPS for the current fiscal year.
Sonus Networks, Inc (NASDAQ:SONS) is a provider of networked solutions for communications service providers e.
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