Ribbon Communications (NASDAQ:RBBN) Stock Price Passes Above 200-Day Moving Average of $3.03

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.03 and traded as high as $3.34. Ribbon Communications shares last traded at $3.30, with a volume of 265,430 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on RBBN shares. StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. JMP Securities assumed coverage on Ribbon Communications in a research note on Monday, April 29th. They issued a “mkt outperform” rating and a $6.00 target price on the stock. Finally, B. Riley increased their price target on shares of Ribbon Communications from $6.00 to $6.50 and gave the company a “buy” rating in a research report on Thursday, April 25th.

Ribbon Communications Stock Performance

The stock has a market cap of $573.90 million, a PE ratio of -9.43 and a beta of 1.08. The firm has a fifty day moving average price of $3.11 and a 200 day moving average price of $3.03.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, April 24th. The communications equipment provider reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Ribbon Communications had a positive return on equity of 4.32% and a negative net margin of 7.11%. The company had revenue of $179.66 million during the quarter, compared to analysts’ expectations of $184.22 million. On average, equities research analysts forecast that Ribbon Communications Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of large investors have recently made changes to their positions in the stock. Worth Venture Partners LLC lifted its position in Ribbon Communications by 15.2% during the 3rd quarter. Worth Venture Partners LLC now owns 67,588 shares of the communications equipment provider’s stock worth $181,000 after acquiring an additional 8,917 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ribbon Communications by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock worth $18,391,000 after purchasing an additional 35,132 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Ribbon Communications by 24.7% during the fourth quarter. SG Americas Securities LLC now owns 50,197 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 9,943 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Ribbon Communications in the fourth quarter valued at approximately $387,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in Ribbon Communications in the 4th quarter worth approximately $1,176,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

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.