Short Interest in Ribbon Communications Inc. (RBBN) Rises By 58.8%

Ribbon Communications Inc. (NASDAQ:RBBN) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,348,341 shares, a growth of 58.8% from the November 15th total of 848,965 shares. Based on an average daily volume of 385,395 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.8% of the shares of the company are sold short.

Shares of Ribbon Communications (NASDAQ:RBBN) opened at $7.56 on Monday. Ribbon Communications has a 12 month low of $5.77 and a 12 month high of $9.05.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. The business had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $68.50 million. Ribbon Communications had a negative return on equity of 1.87% and a negative net margin of 8.82%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. equities analysts expect that Ribbon Communications will post 0.09 EPS for the current fiscal year.

RBBN has been the subject of several recent research reports. Cowen reiterated a “sell” rating on shares of Ribbon Communications in a research note on Tuesday, October 17th. William Blair reiterated a “buy” rating on shares of Ribbon Communications in a research note on Monday, October 30th. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 price target for the company in a research note on Thursday, October 19th. Finally, TheStreet upgraded Ribbon Communications from a “d+” rating to a “c” rating in a research note on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Ribbon Communications currently has an average rating of “Hold” and a consensus price target of $7.25.

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About Ribbon Communications

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.

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