Ribbon Communications (NASDAQ:RBBN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Ribbon Communications Inc. (NASDAQ:RBBN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.60 and traded as high as $2.89. Ribbon Communications shares last traded at $2.83, with a volume of 1,676,800 shares trading hands.

Analyst Upgrades and Downgrades

RBBN has been the topic of a number of research reports. Northland Securities set a $4.00 price target on shares of Ribbon Communications in a report on Friday, February 6th. Craig Hallum reiterated a “buy” rating and issued a $3.00 price target on shares of Ribbon Communications in a report on Wednesday, February 11th. Rosenblatt Securities reduced their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, February 6th. B. Riley Financial reiterated a “neutral” rating on shares of Ribbon Communications in a report on Wednesday, April 29th. Finally, Citigroup restated an “outperform” rating on shares of Ribbon Communications in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.58.

Ribbon Communications Stock Performance

The business’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $2.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.37. The stock has a market capitalization of $498.48 million, a P/E ratio of 16.65 and a beta of 1.26.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Tuesday, April 28th. The communications equipment provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.14%. The firm had revenue of $162.61 million for the quarter, compared to the consensus estimate of $163.43 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ribbon Communications by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,691,070 shares of the communications equipment provider’s stock valued at $29,226,000 after purchasing an additional 166,683 shares during the last quarter. Royce & Associates LP boosted its position in Ribbon Communications by 7.2% in the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock valued at $13,290,000 after buying an additional 309,271 shares during the period. State Street Corp boosted its position in Ribbon Communications by 0.3% in the 4th quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after buying an additional 5,280 shares during the period. First Wilshire Securities Management Inc. boosted its position in Ribbon Communications by 11.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock valued at $2,983,000 after buying an additional 139,592 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Ribbon Communications by 18.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,216,876 shares of the communications equipment provider’s stock valued at $2,580,000 after buying an additional 187,160 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.