BidaskClub Lowers Ribbon Communications (RBBN) to Sell
BidaskClub downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a sell rating in a research report released on Wednesday.
RBBN has been the subject of a number of other research reports. William Blair reaffirmed a buy rating on shares of Ribbon Communications in a report on Friday, December 8th. Zacks Investment Research downgraded shares of Ribbon Communications from a strong-buy rating to a hold rating in a report on Thursday, January 4th. Finally, ValuEngine downgraded shares of Ribbon Communications from a hold rating to a sell rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $7.25.
Ribbon Communications (NASDAQ RBBN) opened at $5.86 on Wednesday. The company has a market cap of $612.37, a price-to-earnings ratio of -10.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.66. Ribbon Communications has a 1-year low of $5.77 and a 1-year high of $9.05.
Several institutional investors and hedge funds have recently made changes to their positions in RBBN. Ellington Management Group LLC acquired a new position in shares of Ribbon Communications during the fourth quarter valued at $109,000. Teacher Retirement System of Texas acquired a new position in shares of Ribbon Communications during the fourth quarter valued at $110,000. Bank of Montreal Can acquired a new position in shares of Ribbon Communications during the fourth quarter valued at $152,000. Two Sigma Securities LLC acquired a new position in shares of Ribbon Communications during the fourth quarter valued at $160,000. Finally, Nwam LLC acquired a new position in shares of Ribbon Communications during the fourth quarter valued at $164,000. 82.09% of the stock is owned by institutional investors.
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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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