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

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

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

Ribbon Communications Price Performance

NASDAQ:RBBN opened at $3.13 on Thursday. The business’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.69. 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 has a 12 month low of $1.78 and a 12 month high of $3.65.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Equities research analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Dan Redington sold 23,964 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $3.09, for a total transaction of $74,048.76. Following the completion of the sale, the executive vice president now directly owns 101,291 shares in the company, valued at $312,989.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired 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 owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dan Redington sold 23,964 shares of Ribbon Communications stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $3.09, for a total value of $74,048.76. Following the completion of the transaction, the executive vice president now owns 101,291 shares of the company’s stock, valued at $312,989.19. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY grew its stake in Ribbon Communications by 6.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after purchasing an additional 477,047 shares in the last quarter. Vanguard Group Inc. grew its stake in Ribbon Communications by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock worth $18,391,000 after purchasing an additional 35,132 shares in the last quarter. Brandes Investment Partners LP grew its stake in Ribbon Communications by 43.4% in the fourth quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock worth $1,859,000 after purchasing an additional 193,829 shares in the last quarter. Federated Hermes Inc. boosted its stake in Ribbon Communications by 2.1% in the fourth quarter. Federated Hermes Inc. now owns 425,621 shares of the communications equipment provider’s stock valued at $1,234,000 after acquiring an additional 8,671 shares during the period. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in Ribbon Communications in the fourth quarter valued at approximately $1,176,000. 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.