Sonus Networks Inc. (SONS) Sees Large Volume Increase
Sonus Networks Inc. (NASDAQ:SONS) saw unusually-strong trading volume on Friday . Approximately 274,895 shares traded hands during trading, a decline of 13% from the previous session’s volume of 317,028 shares.The stock last traded at $9.61 and had previously closed at $9.47.
A number of equities research analysts have weighed in on SONS shares. B. Riley restated a “buy” rating and set a $12.25 price target on shares of Sonus Networks in a research report on Saturday, April 30th. DA Davidson started coverage on Sonus Networks in a research report on Wednesday. They set a “buy” rating and a $12.00 price target on the stock. Zacks Investment Research downgraded Sonus Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, William Blair restated a “hold” rating on shares of Sonus Networks in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Sonus Networks currently has an average rating of “Buy” and an average price target of $10.75.
The company has a 50-day moving average of $8.81 and a 200-day moving average of $7.67. The company’s market cap is $477.07 million.
Sonus Networks (NASDAQ:SONS) last issued its earnings results on Wednesday, April 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. The firm earned $59.20 million during the quarter, compared to the consensus estimate of $58.38 million. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.27) EPS. Analysts expect that Sonus Networks Inc. will post $0.31 EPS for the current year.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Sonus Networks by 26.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,641,624 shares of the company’s stock valued at $11,705,000 after buying an additional 342,192 shares in the last quarter. Morgan Stanley increased its position in shares of Sonus Networks by 606.6% in the fourth quarter. Morgan Stanley now owns 263,424 shares of the company’s stock valued at $1,879,000 after buying an additional 226,146 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Sonus Networks by 226.2% in the fourth quarter. Nationwide Fund Advisors now owns 151,809 shares of the company’s stock valued at $1,082,000 after buying an additional 105,273 shares in the last quarter.
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.