Ribbon Communications (NASDAQ:RBBN) Shares Gap Up to $2.57

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.57, but opened at $2.90. Ribbon Communications shares last traded at $3.11, with a volume of 1,025,098 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on RBBN shares. B. Riley increased their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday. StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Ribbon Communications Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. The firm’s fifty day simple moving average is $2.98 and its 200 day simple moving average is $2.69.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. On average, analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other Ribbon Communications news, EVP Dan Redington sold 23,964 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total transaction of $74,048.76. Following the sale, the executive vice president now directly owns 101,291 shares in the company, valued at approximately $312,989.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Dan Redington sold 23,964 shares of Ribbon Communications stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total value of $74,048.76. Following the sale, the executive vice president now directly owns 101,291 shares in the company, valued at $312,989.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the acquisition, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Ribbon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at approximately $33,000. Principal Financial Group Inc. acquired a new position in Ribbon Communications during the third quarter worth $35,000. NewEdge Wealth LLC acquired a new position in Ribbon Communications during the fourth quarter worth $40,000. Vestmark Advisory Solutions Inc. acquired a new position in Ribbon Communications during the fourth quarter worth $40,000. Finally, Caxton Associates LP acquired a new position in Ribbon Communications during the third quarter worth $41,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Company 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.