Ribbon Communications (NASDAQ:RBBN) Reaches New 1-Year High – Still a Buy?

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.04 and last traded at $4.00, with a volume of 26540 shares. The stock had previously closed at $3.81.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th.

Ribbon Communications Stock Performance

The stock’s 50-day simple moving average is $3.28 and its 200 day simple moving average is $3.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The company had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of Ribbon Communications by 79.1% in the 1st quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 19,346 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Ribbon Communications by 30.1% during the 1st quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock worth $786,000 after acquiring an additional 56,829 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Ribbon Communications by 7.1% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock valued at $475,000 after acquiring an additional 9,822 shares during the last quarter. Innealta Capital LLC purchased a new stake in Ribbon Communications during the first quarter worth approximately $32,000. Finally, Gladius Capital Management LP purchased a new position in Ribbon Communications in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

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.