Ribbon Communications (NASDAQ:RBBN) Stock Price Down 4.2% – Should You Sell?

Ribbon Communications Inc. (NASDAQ:RBBN)’s share price was down 4.2% on Friday . The stock traded as low as $3.40 and last traded at $3.41. Approximately 165,477 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 363,273 shares. The stock had previously closed at $3.56.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and issued a $5.00 price target on shares of Ribbon Communications in a research note on Wednesday, September 25th.

Ribbon Communications Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48. The company has a 50 day moving average of $3.17 and a two-hundred day moving average of $3.16. The stock has a market cap of $600.38 million, a PE ratio of -11.13 and a beta of 1.09.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The business had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same quarter in the prior year, the firm earned $0.01 EPS. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Several large investors have recently bought and sold shares of RBBN. Innealta Capital LLC purchased a new stake in shares of Ribbon Communications in the first quarter valued at approximately $32,000. Gladius Capital Management LP acquired a new position in Ribbon Communications during the second quarter worth $34,000. MQS Management LLC acquired a new position in Ribbon Communications during the second quarter worth $100,000. SG Americas Securities LLC raised its stake in shares of Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock valued at $113,000 after acquiring an additional 15,604 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Ribbon Communications in the second quarter valued at $132,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.