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

Ribbon Communications Inc. (NASDAQ:RBBN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.36 and last traded at $5.32, with a volume of 184565 shares changing hands. The stock had previously closed at $5.13.

Analysts Set New Price Targets

Several research firms have recently weighed in on RBBN. StockNews.com raised Ribbon Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday. Northland Securities raised their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Finally, JMP Securities reissued a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ribbon Communications presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Price Performance

The stock has a market cap of $901.47 million, a price-to-earnings ratio of -16.06 and a beta of 1.11. 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 business’s 50-day simple moving average is $4.14 and its two-hundred day simple moving average is $3.67.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. Research analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in shares of Ribbon Communications in the 3rd quarter worth approximately $34,000. Walleye Capital LLC bought a new position in Ribbon Communications during the fourth quarter worth $43,000. Polymer Capital Management US LLC acquired a new position in Ribbon Communications in the fourth quarter valued at $55,000. Penn Capital Management Company LLC bought a new stake in Ribbon Communications during the fourth quarter valued at $56,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Ribbon Communications in the 4th quarter valued at about $59,000. 70.92% of the stock is currently owned by institutional investors.

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.