Ribbon Communications (NASDAQ:RBBN) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Ribbon Communications (NASDAQ:RBBNGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, Westpark Capital started coverage on Ribbon Communications in a research report on Tuesday. They set a hold rating on the stock.

Ribbon Communications Stock Down 0.3 %

Shares of NASDAQ RBBN opened at $3.10 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $466.41 million, a PE ratio of -1.80 and a beta of 0.92. The stock’s fifty day simple moving average is $3.32 and its two-hundred day simple moving average is $3.14. Ribbon Communications has a 12-month low of $2.57 and a 12-month high of $6.50.

Insider Activity

In other news, major shareholder Swarth Investments Ltd. bought 1,639,344 shares of Ribbon Communications stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $3.05 per share, for a total transaction of $4,999,999.20. Following the purchase, the insider now directly owns 27,435,739 shares of the company’s stock, valued at approximately $83,679,003.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Ribbon Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Ribbon Communications during the 1st quarter worth about $26,000. Quantbot Technologies LP grew its position in Ribbon Communications by 103.8% during the 2nd quarter. Quantbot Technologies LP now owns 10,600 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 5,400 shares during the period. Mirabella Financial Services LLP acquired a new stake in Ribbon Communications during the 1st quarter worth about $33,000. Mackenzie Financial Corp acquired a new stake in Ribbon Communications during the 2nd quarter worth about $42,000. Finally, ProShare Advisors LLC acquired a new stake in Ribbon Communications during the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 86.73% of the company’s stock.

Ribbon Communications Company Profile

(Get Rating)

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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.

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