Insider Buying: Sonus Networks CFO Purchases 15,000 Shares of Stock (SONS)
Sonus Networks (NASDAQ:SONS) CFO Mark T. Greenquist bought 15,000 shares of the stock on the open market in a transaction dated Monday, August 4th. The stock was purchased at an average cost of $3.59 per share, with a total value of $53,850.00. Following the completion of the acquisition, the chief financial officer now directly owns 280,000 shares of the company’s stock, valued at approximately $1,005,200. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on SONS. Analysts at Northland Securities reiterated an “outperform” rating on shares of Sonus Networks in a research note on Monday, July 28th. Separately, analysts at Pacific Crest initiated coverage on shares of Sonus Networks in a research note on Monday, July 7th. They set an “outperform” rating and a $6.00 price target on the stock. Finally, analysts at Barrington Research initiated coverage on shares of Sonus Networks in a research note on Friday, June 27th. They set a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.80.
Sonus Networks (NASDAQ:SONS) traded up 2.39% on Monday, hitting $3.645. The stock had a trading volume of 3,294,644 shares. Sonus Networks has a 52-week low of $2.68 and a 52-week high of $4.25. The stock’s 50-day moving average is $3.81 and its 200-day moving average is $3.47. The company’s market cap is $899.6 million.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Wednesday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $73.70 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts predict that Sonus Networks will post $0.06 earnings per share 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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