Ribbon Communications Inc (NASDAQ:RBBN) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 666,200 shares, a drop of 9.5% from the August 30th total of 736,100 shares. Based on an average daily volume of 254,800 shares, the short-interest ratio is currently 2.6 days. Currently, 0.6% of the shares of the stock are sold short.
Several equities research analysts have weighed in on RBBN shares. BidaskClub cut shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. TheStreet upgraded shares of Ribbon Communications from a “d+” rating to a “c-” rating in a research report on Wednesday, August 21st. ValuEngine upgraded shares of Ribbon Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Ribbon Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.75.
RBBN traded up $0.01 during midday trading on Thursday, hitting $5.56. The company had a trading volume of 3,278 shares, compared to its average volume of 230,678. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.09. The company has a market capitalization of $607.25 million, a PE ratio of 11.57 and a beta of 1.42. Ribbon Communications has a twelve month low of $4.23 and a twelve month high of $7.20. The firm’s 50-day simple moving average is $5.50 and its 200-day simple moving average is $5.10.
Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. Ribbon Communications had a net margin of 1.14% and a return on equity of 8.28%. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $144.43 million. During the same quarter last year, the company posted $0.14 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ribbon Communications will post -0.2 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Ribbon Communications by 252,850.0% during the 2nd quarter. Bank of Montreal Can now owns 5,059 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 5,057 shares during the period. Aperio Group LLC acquired a new stake in shares of Ribbon Communications during the 2nd quarter worth approximately $35,000. Panagora Asset Management Inc. grew its position in shares of Ribbon Communications by 33.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 12,380 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 3,079 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Ribbon Communications during the 3rd quarter worth approximately $71,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Ribbon Communications during the 2nd quarter worth approximately $102,000. Institutional investors own 80.26% of the company’s stock.
About Ribbon Communications
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables secure and innovative business and consumer communications services.
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