Ribbon Communications (NASDAQ:RBBN) Sets New 1-Year High - What's Next?

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $4.30 and last traded at $4.30, with a volume of 35741 shares trading hands. The stock had previously closed at $4.26.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reiterated 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 Down 1.9 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The business has a fifty day moving average of $3.32 and a 200-day moving average of $3.26. The stock has a market capitalization of $733.11 million, a price-to-earnings ratio of -13.31 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced 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 company had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Ribbon Communications's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. On average, equities analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. increased its stake in Ribbon Communications by 2.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider's stock valued at $643,000 after buying an additional 4,553 shares during the period. XTX Topco Ltd increased its position in Ribbon Communications by 6.3% in the 2nd quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider's stock worth $263,000 after purchasing an additional 4,746 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Ribbon Communications by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider's stock worth $502,000 after purchasing an additional 6,668 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Ribbon Communications by 7.1% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider's stock valued at $475,000 after buying an additional 9,822 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Ribbon Communications in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.

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