Ribbon Communications Inc. (RBBN) Short Interest Up 39.6% in January

Ribbon Communications Inc. (NASDAQ:RBBN) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 2,188,874 shares, a growth of 39.6% from the January 12th total of 1,567,829 shares. Based on an average daily trading volume, of 354,900 shares, the short-interest ratio is presently 6.2 days. Approximately 4.5% of the shares of the stock are sold short.

A number of brokerages have issued reports on RBBN. TheStreet upgraded Ribbon Communications from a “d+” rating to a “c” rating in a research note on Monday, October 23rd. BidaskClub lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 price target for the company in a research note on Thursday, October 19th. Finally, William Blair reiterated a “buy” rating on shares of Ribbon Communications in a research note on Friday, December 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Ribbon Communications currently has an average rating of “Hold” and an average target price of $7.25.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBBN. Bank of Montreal Can bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $152,000. Schwab Charles Investment Management Inc. bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $1,705,000. Strs Ohio bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $469,000. Horrell Capital Management Inc. bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $2,441,000. Finally, Cowen Prime Services LLC bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $4,398,000. 31.93% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications (NASDAQ:RBBN) opened at $6.65 on Friday. Ribbon Communications has a 1-year low of $5.77 and a 1-year high of $9.05. The company has a market cap of $676.99, a PE ratio of -14.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

ILLEGAL ACTIVITY WARNING: This report was published by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/11/ribbon-communications-inc-rbbn-short-interest-up-39-6-in-january.html.

Ribbon Communications Company Profile

Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

Receive News & Ratings for Ribbon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ribbon Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply