Ribbon Communications (NASDAQ:RBBN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Ribbon Communications (NASDAQ:RBBN) from a buy rating to a hold rating in a research report released on Saturday morning.

RBBN has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ribbon Communications in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ribbon Communications currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Ribbon Communications Stock Down 2.8%

NASDAQ:RBBN opened at $3.45 on Friday. The firm has a market capitalization of $609.27 million, a price-to-earnings ratio of -14.37 and a beta of 1.36. Ribbon Communications has a 1-year low of $3.01 and a 1-year high of $5.38. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average price is $3.86 and its 200 day moving average price is $3.78.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Monday, March 27th. The communications equipment provider reported $0.01 earnings per share for the quarter. The company had revenue of $100.28 million for the quarter. Ribbon Communications had a positive return on equity of 6.49% and a negative net margin of 4.96%. On average, sell-side analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Beatriz V. Infante sold 8,690 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $3.98, for a total value of $34,586.20. Following the sale, the director owned 343,224 shares in the company, valued at approximately $1,366,031.52. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Redington sold 14,176 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $4.02, for a total transaction of $56,987.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,300 shares of company stock worth $801,173. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Ribbon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of RBBN. First Bank & Trust acquired a new stake in Ribbon Communications in the 1st quarter worth $115,000. Teacher Retirement System of Texas acquired a new stake in Ribbon Communications during the first quarter worth about $208,000. Victory Capital Management Inc. grew its position in Ribbon Communications by 8.9% during the first quarter. Victory Capital Management Inc. now owns 605,306 shares of the communications equipment provider’s stock worth $2,373,000 after buying an additional 49,467 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Ribbon Communications during the 1st quarter worth approximately $57,000. Finally, Royce & Associates LP grew its holdings in shares of Ribbon Communications by 10.3% during the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider’s stock worth $12,121,000 after purchasing an additional 289,210 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.