Inspire Investing LLC Acquires New Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Inspire Investing LLC acquired a new stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 202,858 shares of the communications equipment provider's stock, valued at approximately $844,000. Inspire Investing LLC owned 0.12% of Ribbon Communications as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Ribbon Communications in the third quarter valued at approximately $34,000. SG Americas Securities LLC increased its stake in shares of Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider's stock worth $113,000 after buying an additional 15,604 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Ribbon Communications in the 2nd quarter worth about $132,000. AQR Capital Management LLC acquired a new stake in Ribbon Communications during the second quarter valued at approximately $137,000. Finally, Renaissance Technologies LLC bought a new position in Ribbon Communications during the second quarter worth $247,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN traded down $0.09 on Friday, reaching $4.11. 329,892 shares of the company traded hands, compared to its average volume of 279,713. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. Ribbon Communications Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $4.39. The stock has a market capitalization of $720.81 million, a PE ratio of -12.84 and a beta of 1.12. The company's 50 day moving average is $4.01 and its 200-day moving average is $3.59.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. As a group, analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a research note on Monday, December 30th. Northland Securities raised their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ribbon Communications currently has an average rating of "Buy" and an average target price of $6.00.

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.