Ribbon Communications Inc. (RBBN) Short Interest Up 58.8% in November
Ribbon Communications Inc. (NASDAQ:RBBN) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,348,341 shares, an increase of 58.8% from the November 15th total of 848,965 shares. Based on an average daily volume of 385,395 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.8% of the shares of the company are sold short.
A number of research firms have commented on RBBN. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a research report on Monday, October 30th. TheStreet raised shares of Ribbon Communications from a “d+” rating to a “c” rating in a research report on Monday, October 23rd. Zacks Investment Research cut shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Cowen reissued a “sell” rating on shares of Ribbon Communications in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.
Shares of Ribbon Communications (NASDAQ:RBBN) opened at $7.41 on Friday. Ribbon Communications has a 52-week low of $5.77 and a 52-week high of $9.05.
About Ribbon Communications
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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