Ribbon Communications (NASDAQ:RBBN) Shares Gap Up to $4.47

Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.47, but opened at $4.56. Ribbon Communications shares last traded at $4.50, with a volume of 219,418 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBBN. TheStreet raised Ribbon Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 16th. Westpark Capital raised Ribbon Communications from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, January 23rd. StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a report on Friday, February 17th. Finally, B. Riley upped their price target on Ribbon Communications from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, February 16th.

Ribbon Communications Stock Down 2.2 %

The company has a quick ratio of 1.18, a current ratio of 1.42 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $3.64 and a 200-day moving average price of $3.05.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently modified their holdings of RBBN. Sei Investments Co. grew its position in Ribbon Communications by 21.9% during the 1st quarter. Sei Investments Co. now owns 23,058 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 4,138 shares during the last quarter. Jane Street Group LLC grew its position in Ribbon Communications by 36.5% during the 4th quarter. Jane Street Group LLC now owns 20,171 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 5,394 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Ribbon Communications by 9.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 61,480 shares of the communications equipment provider’s stock worth $137,000 after acquiring an additional 5,399 shares during the last quarter. 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 acquiring an additional 5,400 shares during the last quarter. Finally, Swiss National Bank grew its position in Ribbon Communications by 4.0% during the 4th quarter. Swiss National Bank now owns 182,074 shares of the communications equipment provider’s stock worth $508,000 after acquiring an additional 7,000 shares during the last quarter. 86.72% of the stock is owned by institutional investors and hedge funds.

About Ribbon Communications

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Ribbon Communications, Inc delivers communications software, IP and optical networking solutions to service providers, enterprises, and infrastructure sectors. It operates through the following segments: Cloud & Edge and IP Optical Networks. The Cloud and Edge segment provides secure and reliable software and hardware products, solutions, and services for enabling Voice over Internet Protocol (VoIP) communications, Voice over Long-Term Evolution (VoLTE) and Voice Over 5G (VoNR) communications, and Unified Communications and Collaboration (UC&C) within service provider and enterprise networks and from the cloud.