Ribbon Communications (NASDAQ:RBBN) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.
Other equities research analysts have also recently issued reports about the company. William Blair reissued a “buy” rating on shares of Ribbon Communications in a research note on Monday. BidaskClub cut Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research cut Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.25.
Shares of Ribbon Communications (RBBN) opened at $5.27 on Tuesday. The company has a market capitalization of $592.20, a price-to-earnings ratio of -8.78 and a beta of 1.66. Ribbon Communications has a 52 week low of $5.25 and a 52 week high of $9.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.07.
In related news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average cost of $5.66 per share, with a total value of $424,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.68% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in RBBN. Ellington Management Group LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $109,000. Teacher Retirement System of Texas acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $110,000. Bank of Montreal Can acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $152,000. Two Sigma Securities LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $160,000. Finally, Nwam LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $164,000. 83.86% of the stock is owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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