Ribbon Communications (NASDAQ:RBBN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Ribbon Communications Inc. (NASDAQ:RBBN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.60 and traded as high as $2.89. Ribbon Communications shares last traded at $2.83, with a volume of 1,676,800 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on RBBN shares. Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Craig Hallum reiterated a “buy” rating and issued a $3.00 target price on shares of Ribbon Communications in a report on Wednesday, February 11th. Northland Securities set a $4.00 target price on Ribbon Communications in a report on Friday, February 6th. Citigroup reiterated an “outperform” rating on shares of Ribbon Communications in a report on Friday, February 6th. Finally, Weiss Ratings cut shares of Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.58.

Ribbon Communications Trading Up 1.4%

The company has a quick ratio of 1.09, a current ratio of 1.37 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $2.49 and its 200-day moving average price is $2.60. The stock has a market capitalization of $498.48 million, a P/E ratio of 16.65 and a beta of 1.26.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.14%. The firm had revenue of $162.61 million for the quarter, compared to the consensus estimate of $163.43 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts expect that Ribbon Communications Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of RBBN. Kennedy Capital Management LLC purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $2,047,000. Royce & Associates LP lifted its position in Ribbon Communications by 17.2% during the third quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock valued at $16,361,000 after acquiring an additional 633,035 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in Ribbon Communications during the third quarter valued at approximately $1,991,000. Arrowstreet Capital Limited Partnership lifted its position in Ribbon Communications by 99.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after acquiring an additional 481,276 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Ribbon Communications by 88.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock valued at $2,564,000 after acquiring an additional 418,967 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.