Ribbon Communications (NASDAQ:RBBN) Shares Gap Up – Here’s What Happened

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $3.69, but opened at $3.99. Ribbon Communications shares last traded at $4.01, with a volume of 206,632 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Wednesday, April 30th. B. Riley lowered their price target on Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.88.

Ribbon Communications Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company’s 50 day simple moving average is $3.49 and its 200 day simple moving average is $3.92. The stock has a market cap of $708.82 million, a price-to-earnings ratio of -12.55 and a beta of 1.31.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. The business had revenue of $181.28 million during the quarter, compared to the consensus estimate of $191.66 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

Several institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 5,122 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Ribbon Communications by 9.9% during the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after purchasing an additional 13,990 shares during the period. Bailard Inc. acquired a new position in Ribbon Communications in the 4th quarter valued at about $314,000. Victory Capital Management Inc. boosted its holdings in Ribbon Communications by 10.2% in the 4th quarter. Victory Capital Management Inc. now owns 555,839 shares of the communications equipment provider’s stock worth $2,312,000 after acquiring an additional 51,336 shares during the period. Finally, Inceptionr LLC acquired a new stake in shares of Ribbon Communications during the 4th quarter valued at approximately $104,000. Institutional investors 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.