Ribbon Communications Inc. (NASDAQ:RBBN) traded down 11% during mid-day trading on Thursday . The company traded as low as $7.30 and last traded at $7.41. 752,768 shares were traded during mid-day trading, an increase of 99% from the average session volume of 378,523 shares. The stock had previously closed at $8.33.

A number of equities research analysts have recently issued reports on the stock. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Friday, December 8th. TheStreet raised shares of Ribbon Communications from a “d+” rating to a “c” rating in a report on Monday, October 23rd. Zacks Investment Research raised shares of Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 target price on the stock in a report on Thursday, October 19th. Finally, Cowen reaffirmed a “sell” rating on shares of Ribbon Communications in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.25.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Ribbon Communications had a negative net margin of 8.82% and a negative return on equity of 1.87%. The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $68.50 million. During the same quarter last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. equities research analysts expect that Ribbon Communications Inc. will post 0.09 earnings per share for the current fiscal year.

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Ribbon Communications Company Profile

Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

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