Ribbon Communications (NASDAQ:RBBN) Shares Cross Above 200 Day Moving Average – Time to Sell?

Ribbon Communications Inc. (NASDAQ:RBBN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.81 and traded as high as $4.43. Ribbon Communications shares last traded at $4.32, with a volume of 989,133 shares changing hands.

Wall Street Analyst Weigh In

RBBN has been the subject of a number of research reports. StockNews.com lowered shares of Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Northland Securities raised their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a report on Monday, December 30th. Finally, JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ribbon Communications presently has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Trading Down 2.9 %

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 company has a market cap of $757.66 million, a PE ratio of -13.50 and a beta of 1.11. The firm’s 50 day moving average is $4.29 and its 200 day moving average is $3.81.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, equities analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its position in shares of Ribbon Communications by 59.4% in the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after purchasing an additional 188,077 shares during the last quarter. Inspire Investing LLC purchased a new position in Ribbon Communications in the 4th quarter worth approximately $844,000. Barclays PLC increased its holdings in shares of 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 during the last quarter. Royce & Associates LP increased its holdings in shares of 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 buying an additional 386,518 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after buying an additional 5,122 shares in the last quarter. 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.