Ribbon Communications (NASDAQ:RBBN) Sets New 1-Year High - Time to Buy?

Shares of Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.04 and last traded at $4.00, with a volume of 26540 shares. The stock had previously closed at $3.81.

Analysts Set New Price Targets

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

Ribbon Communications Stock Up 6.6 %

The company's 50-day moving average is $3.28 and its 200 day moving average is $3.23. The stock has a market capitalization of $712.04 million, a PE ratio of -12.41 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $210.00 million during the quarter, compared to analysts' expectations 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 quarterly revenue 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 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of institutional investors and hedge funds have recently modified their holdings of RBBN. Paradigm Capital Management Inc. NY boosted its holdings in Ribbon Communications by 4.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider's stock valued at $34,698,000 after purchasing an additional 420,000 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Ribbon Communications by 18.0% in the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider's stock worth $8,243,000 after buying an additional 386,518 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ribbon Communications by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider's stock worth $19,012,000 after buying an additional 270,972 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Ribbon Communications by 59.4% during the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider's stock worth $1,640,000 after acquiring an additional 188,077 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Ribbon Communications during the second quarter valued at approximately $247,000. Institutional investors and hedge funds own 70.92% of the company's stock.

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.