Ribbon Communications (NASDAQ:RBBN) Shares Up 4.4% – Still a Buy?

Ribbon Communications Inc. (NASDAQ:RBBN) shares shot up 4.4% during trading on Thursday . The company traded as high as $3.53 and last traded at $3.53. 210,929 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 362,628 shares. The stock had previously closed at $3.38.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a report on Wednesday, September 25th.

Ribbon Communications Stock Performance

The stock’s 50 day simple moving average is $3.18 and its two-hundred day simple moving average is $3.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The stock has a market cap of $595.15 million, a P/E ratio of -10.66 and a beta of 1.09.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $192.62 million during the quarter, compared to the consensus estimate of $203.05 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, research analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RBBN. Innealta Capital LLC acquired a new position in Ribbon Communications during the 1st quarter worth approximately $32,000. Gladius Capital Management LP bought a new position in Ribbon Communications in the second quarter valued at $34,000. MQS Management LLC bought a new position in Ribbon Communications in the second quarter valued at $100,000. SG Americas Securities LLC boosted its stake in shares of Ribbon Communications by 81.3% during the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 15,604 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Ribbon Communications in the 2nd quarter valued at about $137,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Company Profile

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.