Ribbon Communications (NASDAQ:RBBN) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Ribbon Communications (NASDAQ:RBBNGet Rating) from a buy rating to a hold rating in a research report report published on Friday.

Separately, B. Riley decreased their price objective on shares of Ribbon Communications from $8.00 to $7.00 in a research note on Thursday, April 28th.

Ribbon Communications Trading Down 1.2 %

NASDAQ RBBN opened at $3.26 on Friday. Ribbon Communications has a 12 month low of $2.57 and a 12 month high of $7.78. The company has a current ratio of 1.20, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company’s 50 day simple moving average is $3.08 and its 200 day simple moving average is $3.30.

Institutional Investors Weigh In On Ribbon Communications

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new stake in shares of Ribbon Communications during the 4th quarter valued at $89,000. Penserra Capital Management LLC raised its holdings in Ribbon Communications by 47.6% in the 4th quarter. Penserra Capital Management LLC now owns 1,190,176 shares of the communications equipment provider’s stock worth $7,200,000 after acquiring an additional 383,896 shares during the period. Wedbush Securities Inc. raised its holdings in Ribbon Communications by 38.9% in the 1st quarter. Wedbush Securities Inc. now owns 23,609 shares of the communications equipment provider’s stock worth $73,000 after acquiring an additional 6,609 shares during the period. Koss Olinger Consulting LLC bought a new position in Ribbon Communications in the 4th quarter worth $74,000. Finally, Alpha Paradigm Partners LLC bought a new position in Ribbon Communications in the 4th quarter worth $129,000. Institutional investors and hedge funds own 66.08% of the company’s stock.

About Ribbon Communications

(Get Rating)

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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.

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