Sonus Networks, Inc. (NASDAQ:SONS) shares saw strong trading volume on Friday . 1,690,960 shares were traded during trading, an increase of 831% from the previous session’s volume of 181,597 shares.The stock last traded at $7.79 and had previously closed at $7.57.

Several equities analysts recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $7.75 price objective on shares of Sonus Networks in a report on Sunday, July 2nd. Cowen and Company reaffirmed a “sell” rating and set a $5.00 price objective on shares of Sonus Networks in a report on Friday, August 4th. BidaskClub cut Sonus Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Wednesday, August 9th. Finally, DA Davidson raised Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.57.

The company’s market capitalization is $387.05 million. The firm has a 50-day moving average price of $7.36 and a 200-day moving average price of $7.29.

Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Sonus Networks had a negative return on equity of 6.18% and a negative net margin of 12.15%. The company had revenue of $55.70 million during the quarter, compared to the consensus estimate of $53.93 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts anticipate that Sonus Networks, Inc. will post $0.25 EPS for the current year.

Several large investors have recently made changes to their positions in SONS. Capital Investment Advisors LLC acquired a new stake in shares of Sonus Networks during the 2nd quarter valued at $106,000. PEAK6 Investments L.P. lifted its position in shares of Sonus Networks by 69.1% during the 1st quarter. PEAK6 Investments L.P. now owns 18,265 shares of the communications equipment provider’s stock valued at $120,000 after acquiring an additional 7,465 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Sonus Networks by 26.1% during the 2nd quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock valued at $149,000 after acquiring an additional 4,133 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Sonus Networks by 18.9% during the 2nd quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock valued at $189,000 after acquiring an additional 4,033 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of Sonus Networks by 7.0% during the 1st quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock valued at $194,000 after acquiring an additional 1,930 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

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Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) 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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