Ribbon Communications (NASDAQ:RBBN) Shares Down 4.8% - Time to Sell?

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report)'s stock price dropped 4.8% on Thursday . The company traded as low as $3.94 and last traded at $3.96. Approximately 190,291 shares changed hands during trading, a decline of 48% from the average daily volume of 368,596 shares. The stock had previously closed at $4.16.

Wall Street Analysts Forecast Growth

RBBN has been the subject of several recent research reports. Northland Securities lifted their target price 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 reiterated a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $6.00.

Ribbon Communications Stock Performance

The business's fifty day moving average price is $3.96 and its 200-day moving average price is $3.49. 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 market capitalization of $694.52 million, a PE ratio of -12.37 and a beta of 1.14.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings data 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 business 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 quarter last year, the business posted $0.03 EPS. As a group, equities research analysts expect that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of large investors have recently added to or reduced their stakes in RBBN. Bank of New York Mellon Corp boosted its stake in shares of Ribbon Communications by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider's stock valued at $1,429,000 after purchasing an additional 31,644 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Ribbon Communications by 4.6% in the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider's stock valued at $502,000 after acquiring an additional 6,668 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ribbon Communications by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider's stock valued at $19,012,000 after acquiring an additional 270,972 shares during the period. Renaissance Technologies LLC bought a new position in Ribbon Communications during the 2nd quarter worth approximately $247,000. Finally, XTX Topco Ltd increased its stake 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 period. 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.