Ribbon Communications (NASDAQ:RBBN) Shares Pass Above 200-Day Moving Average - Here's What Happened

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.60 and traded as high as $4.03. Ribbon Communications shares last traded at $3.93, with a volume of 315,673 shares changing hands.

Analyst Upgrades and Downgrades

RBBN has been the topic of a number of research reports. Northland Securities increased their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Rosenblatt Securities restated a "buy" rating and issued a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $6.00.

Ribbon Communications Stock Performance

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 stock has a 50-day moving average price of $4.05 and a 200-day moving average price of $3.61. The firm has a market capitalization of $717.30 million, a PE ratio of -12.78 and a beta of 1.11.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently bought and sold shares of RBBN. Royce & Associates LP grew its position in Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider's stock worth $8,243,000 after purchasing an additional 386,518 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth approximately $844,000. Victory Capital Management Inc. boosted its position in shares of 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 buying an additional 188,077 shares during the period. Barclays PLC grew its holdings in Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock worth $553,000 after buying an additional 102,969 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Ribbon Communications in the 4th quarter valued at approximately $314,000. Institutional investors and hedge funds 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.