Ribbon Communications (NASDAQ:RBBN) Trading Up 4.4% - Here's Why

Shares of Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) rose 4.4% on Thursday . The company traded as high as $3.53 and last traded at $3.53. Approximately 210,929 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 362,628 shares. The stock had previously closed at $3.38.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reaffirmed a "buy" rating and set a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th.

Ribbon Communications Trading Up 5.3 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The stock's fifty day moving average is $3.16 and its two-hundred day moving average is $3.15.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The company had revenue of $192.62 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the prior year, the business earned $0.01 EPS. Equities analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently bought and sold shares of RBBN. Innealta Capital LLC bought a new position in shares of Ribbon Communications during the first quarter valued at about $32,000. Gladius Capital Management LP purchased a new stake in Ribbon Communications in the 2nd quarter valued at about $34,000. MQS Management LLC bought a new position in shares of Ribbon Communications during the 2nd quarter worth approximately $100,000. SG Americas Securities LLC lifted its position in shares of Ribbon Communications by 81.3% during the 3rd 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 in the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Ribbon Communications in the 2nd quarter worth approximately $137,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

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.

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