Ribbon Communications Inc. (NASDAQ:RBBN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.42 and last traded at $5.41, with a volume of 1389483 shares changing hands. The stock had previously closed at $5.81.
A number of brokerages have recently issued reports on RBBN. BidaskClub lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday. William Blair restated a “buy” rating on shares of Ribbon Communications in a research note on Monday. Finally, Zacks Investment Research lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Four analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.25.
The firm has a market cap of $537.16, a P/E ratio of -8.80 and a beta of 1.66. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.04.
In other Ribbon Communications news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average price of $5.66 per share, for a total transaction of $424,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.68% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBBN. Bank of Montreal Can acquired a new stake in Ribbon Communications during the fourth quarter worth about $152,000. Schwab Charles Investment Management Inc. bought a new position in Ribbon Communications in the 4th quarter worth about $1,705,000. Strs Ohio bought a new position in Ribbon Communications in the 4th quarter worth about $469,000. Horrell Capital Management Inc. bought a new position in Ribbon Communications in the 4th quarter worth about $2,441,000. Finally, Cowen Prime Services LLC bought a new position in Ribbon Communications in the 4th quarter worth about $4,398,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Ribbon Communications Company Profile
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
Receive News & Ratings for Ribbon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ribbon Communications and related companies with MarketBeat.com's FREE daily email newsletter.