Herald Investment Management Ltd Sells 292,191 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Herald Investment Management Ltd lowered its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,123,678 shares of the communications equipment provider's stock after selling 292,191 shares during the quarter. Herald Investment Management Ltd owned approximately 0.64% of Ribbon Communications worth $4,674,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Walleye Capital LLC acquired a new position in Ribbon Communications in the fourth quarter valued at about $43,000. Polymer Capital Management US LLC acquired a new stake in Ribbon Communications during the 4th quarter worth approximately $55,000. Renaissance Technologies LLC bought a new position in Ribbon Communications in the fourth quarter valued at approximately $59,000. KLP Kapitalforvaltning AS acquired a new position in shares of Ribbon Communications in the fourth quarter valued at approximately $64,000. Finally, Inceptionr LLC bought a new stake in shares of Ribbon Communications during the fourth quarter worth $104,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RBBN. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. StockNews.com lowered Ribbon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st. Finally, JMP Securities reiterated a "market outperform" rating and set a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $6.00.

Ribbon Communications Stock Up 2.3 %

Shares of NASDAQ RBBN traded up $0.08 during mid-day trading on Wednesday, hitting $3.56. The company had a trading volume of 208,046 shares, compared to its average volume of 413,744. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $4.05 and a two-hundred day simple moving average of $3.96. The company has a market capitalization of $626.32 million, a PE ratio of -11.13 and a beta of 1.37. Ribbon Communications Inc. has a one year low of $2.54 and a one year high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. On average, equities analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

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.