Ribbon Communications (NASDAQ:RBBN) Shares Pass Above 200 Day Moving Average – What’s Next?

Ribbon Communications Inc. (NASDAQ:RBBN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.60 and traded as high as $3.10. Ribbon Communications shares last traded at $3.07, with a volume of 785,032 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RBBN. Rosenblatt Securities cut their price objective on Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Wall Street Zen lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. B. Riley Financial reiterated a “neutral” rating on shares of Ribbon Communications in a research report on Wednesday, April 29th. Citigroup reiterated an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Finally, Citizens Jmp reduced their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ribbon Communications has a consensus rating of “Moderate Buy” and an average target price of $3.58.

Ribbon Communications Stock Performance

The stock has a market cap of $540.75 million, a PE ratio of 18.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.09. The business has a 50 day moving average price of $2.62 and a two-hundred day moving average price of $2.60.

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

Institutional Trading of Ribbon Communications

A number of institutional investors have recently made changes to their positions in RBBN. Kennedy Capital Management LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter valued at approximately $2,047,000. Royce & Associates LP boosted its stake in shares of Ribbon Communications by 17.2% during the third quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock valued at $16,361,000 after purchasing an additional 633,035 shares during the period. Cinctive Capital Management LP purchased a new stake in shares of Ribbon Communications during the third quarter valued at approximately $1,991,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ribbon Communications by 99.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after acquiring an additional 481,276 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Ribbon Communications by 88.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock valued at $2,564,000 after acquiring an additional 418,967 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

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.