Ribbon Communications (NASDAQ:RBBN) Reaches New 52-Week High - Here's Why

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $5.36 and last traded at $5.32, with a volume of 184565 shares changing hands. The stock had previously closed at $5.13.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com upgraded Ribbon Communications from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 14th. Northland Securities boosted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a "buy" rating and set a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ribbon Communications has a consensus rating of "Buy" and an average price target of $6.00.

Ribbon Communications Stock Performance

The company has a market cap of $829.55 million, a P/E ratio of -14.78 and a beta of 1.11. The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $3.72. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 6.50% and a positive return on equity of 7.36%. On average, sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of Ribbon Communications by 81.3% in 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake in Ribbon Communications by 19.1% in the third quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider's stock worth $422,000 after acquiring an additional 20,826 shares during the period. Victory Capital Management Inc. lifted its stake in Ribbon Communications by 59.4% in 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. Royce & Associates LP boosted its holdings in 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 valued at $8,243,000 after acquiring an additional 386,518 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Ribbon Communications by 12.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,356 shares of the communications equipment provider's stock valued at $1,353,000 after purchasing an additional 46,476 shares during the period. Hedge funds and other institutional investors own 70.92% of the company's stock.

Ribbon Communications Company Profile

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.