Ribbon Communications (RBBN) Rating Lowered to Sell at BidaskClub
BidaskClub downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a sell rating in a research report released on Wednesday.
Several other research firms have also recently issued reports on RBBN. Zacks Investment Research cut Ribbon Communications from a strong-buy rating to a hold rating in a report on Thursday, January 4th. William Blair reiterated a buy rating on shares of Ribbon Communications in a report on Friday, December 8th. Finally, ValuEngine lowered shares of Ribbon Communications from a hold rating to a sell rating in a research note on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $7.25.
Shares of Ribbon Communications (NASDAQ:RBBN) opened at $5.86 on Wednesday. Ribbon Communications has a twelve month low of $5.77 and a twelve month high of $9.05. The stock has a market capitalization of $612.37, a PE ratio of -10.10, a P/E/G ratio of 1.28 and a beta of 1.66.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBBN. Bank of Montreal Can purchased a new position in Ribbon Communications in the 4th quarter worth approximately $152,000. Schwab Charles Investment Management Inc. purchased a new position in Ribbon Communications in the 4th quarter worth approximately $1,705,000. Strs Ohio purchased a new position in Ribbon Communications in the 4th quarter worth approximately $469,000. Horrell Capital Management Inc. purchased a new position in Ribbon Communications in the 4th quarter worth approximately $2,441,000. Finally, Cowen Prime Services LLC purchased a new position in Ribbon Communications in the 4th quarter worth approximately $4,398,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.
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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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