B. Riley Raises Ribbon Communications (NASDAQ:RBBN) Price Target to $6.50

Ribbon Communications (NASDAQ:RBBN) had its price objective lifted by B. Riley from $6.00 to $6.50 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Separately, StockNews.com raised shares of Ribbon Communications from a hold rating to a buy rating in a research note on Saturday, March 9th.

Ribbon Communications Trading Down 3.4 %

NASDAQ RBBN opened at $3.13 on Thursday. The company’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $2.69. Ribbon Communications has a twelve month low of $1.78 and a twelve month high of $3.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. As a group, analysts predict that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ribbon Communications news, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $312,989.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ribbon Communications news, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $312,989.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruns H. Grayson acquired 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 103,000 shares of company stock valued at $297,720 and have sold 66,000 shares valued at $205,119. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ribbon Communications

A number of large investors have recently modified their holdings of the stock. SG Capital Management LLC lifted its position in shares of Ribbon Communications by 5.3% during the fourth quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock worth $256,000 after purchasing an additional 4,449 shares in the last quarter. Qtron Investments LLC lifted its position in shares of Ribbon Communications by 64.1% during the third quarter. Qtron Investments LLC now owns 17,986 shares of the communications equipment provider’s stock worth $48,000 after purchasing an additional 7,025 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Ribbon Communications by 22.0% during the third quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 7,146 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ribbon Communications by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 425,621 shares of the communications equipment provider’s stock worth $1,234,000 after purchasing an additional 8,671 shares in the last quarter. Finally, Worth Venture Partners LLC lifted its position in shares of Ribbon Communications by 15.2% during the third quarter. Worth Venture Partners LLC now owns 67,588 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 8,917 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

About Ribbon Communications

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.