Ribbon Communications (NASDAQ:RBBN) Reaches New 52-Week High – Time to Buy?

Ribbon Communications Inc. (NASDAQ:RBBN) shares reached a new 52-week high on Tuesday . The company traded as high as $4.39 and last traded at $4.35, with a volume of 467778 shares. The stock had previously closed at $4.27.

Analyst Ratings Changes

A number of research firms recently weighed in on RBBN. Northland Securities boosted their price target 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 reissued a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research note on Monday, December 30th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, Ribbon Communications presently has a consensus rating of “Buy” and an average target price of $6.00.

Ribbon Communications Price 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 market cap of $761.15 million, a P/E ratio of -13.56 and a beta of 1.11. The company’s 50 day simple moving average is $4.05 and its 200 day simple moving average is $3.61.

Institutional Investors Weigh In On Ribbon Communications

Several large investors have recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its holdings in shares of Ribbon Communications by 1,049.5% in the fourth quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock valued at $3,409,000 after buying an additional 748,090 shares during the period. Royce & Associates LP boosted its holdings in shares of 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 buying an additional 386,518 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock valued at $30,793,000 after buying an additional 295,524 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ribbon Communications by 62.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock valued at $2,809,000 after buying an additional 258,909 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of Ribbon Communications in the fourth quarter valued at approximately $844,000. 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.