Ribbon Communications (NASDAQ:RBBN) Now Covered by Analysts at JMP Securities

JMP Securities began coverage on shares of Ribbon Communications (NASDAQ:RBBN) in a note issued to investors on Monday, StockNewsAPI reports. The firm set a “mkt outperform” rating and a $6.00 price target on the communications equipment provider’s stock. JMP Securities’ target price would suggest a potential upside of 90.48% from the stock’s current price.

A number of other equities research analysts have also recently commented on RBBN. B. Riley lifted their price objective on Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Ribbon Communications Stock Performance

NASDAQ:RBBN traded up $0.02 during mid-day trading on Monday, hitting $3.15. 91,706 shares of the company’s stock traded hands, compared to its average volume of 445,099. The firm has a 50 day moving average of $2.97 and a two-hundred day moving average of $2.69. Ribbon Communications has a 12 month low of $1.78 and a 12 month high of $3.65. The firm has a market capitalization of $540.95 million, a price-to-earnings ratio of -9.11 and a beta of 1.19. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. The business had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $233.63 million. On average, equities analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Ribbon Communications

In related news, EVP Dan Redington sold 23,964 shares of Ribbon Communications stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $3.09, for a total transaction of $74,048.76. Following the sale, the executive vice president now directly owns 101,291 shares in the company, valued at $312,989.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ribbon Communications news, EVP Dan Redington sold 23,964 shares of Ribbon Communications stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $3.09, for a total transaction of $74,048.76. Following the completion of the transaction, the executive vice president now owns 101,291 shares in the company, valued at $312,989.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $2.89 per share, with a total value of $289,000.00. Following the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY increased its stake in Ribbon Communications by 6.8% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after buying an additional 477,047 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ribbon Communications by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock worth $18,391,000 after purchasing an additional 35,132 shares during the last quarter. Brandes Investment Partners LP grew its holdings in shares of Ribbon Communications by 43.4% during the fourth quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock worth $1,859,000 after purchasing an additional 193,829 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Ribbon Communications by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 425,621 shares of the communications equipment provider’s stock worth $1,234,000 after buying an additional 8,671 shares during the period. Finally, Silverberg Bernstein Capital Management LLC acquired a new stake in Ribbon Communications in the fourth quarter valued at about $1,176,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.