Ribbon Communications (NASDAQ:RBBN) Stock Price Down 2.8% – Should You Sell?

Ribbon Communications Inc. (NASDAQ:RBBN) was down 2.8% during mid-day trading on Thursday . The company traded as low as $4.17 and last traded at $4.18. Approximately 11,305 shares changed hands during trading, a decline of 97% from the average daily volume of 368,276 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RBBN shares. Northland Securities lifted their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ribbon Communications presently has a consensus rating of “Buy” and a consensus target price of $5.88.

Ribbon Communications Stock Down 1.2 %

The stock has a market cap of $745.38 million, a PE ratio of -13.28 and a beta of 1.14. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $3.88 and a 200-day moving average of $3.45.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RBBN. Barclays PLC grew its stake in Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after buying an additional 102,969 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ribbon Communications by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after acquiring an additional 27,999 shares in the last quarter. State Street Corp grew its holdings in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after acquiring an additional 7,963 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock valued at $2,479,000 after purchasing an additional 13,984 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Ribbon Communications in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.