Herald Investment Management Ltd Sells 292,191 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Herald Investment Management Ltd trimmed its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,123,678 shares of the communications equipment provider’s stock after selling 292,191 shares during the period. Herald Investment Management Ltd owned about 0.64% of Ribbon Communications worth $4,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RBBN. Walleye Capital LLC acquired a new stake in shares of Ribbon Communications in the 4th quarter valued at about $43,000. Polymer Capital Management US LLC bought a new position in shares of Ribbon Communications during the fourth quarter worth about $55,000. Renaissance Technologies LLC acquired a new stake in Ribbon Communications in the 4th quarter valued at approximately $59,000. KLP Kapitalforvaltning AS bought a new stake in Ribbon Communications in the 4th quarter valued at approximately $64,000. Finally, Inceptionr LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $104,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Stock Up 1.4 %

Ribbon Communications stock opened at $3.58 on Friday. Ribbon Communications Inc. has a fifty-two week low of $2.47 and a fifty-two week high of $5.38. The firm has a market capitalization of $629.84 million, a PE ratio of -11.19 and a beta of 1.37. The company’s 50-day moving average is $4.12 and its 200-day moving average is $3.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RBBN. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a research note on Monday, December 30th. Northland Securities boosted their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com downgraded Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.00.

Ribbon Communications 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.