Ribbon Communications Inc (NASDAQ:RBBN) shares were down 25.9% during trading on Thursday . The stock traded as low as $2.94 and last traded at $3.00, approximately 2,342,800 shares traded hands during trading. An increase of 644% from the average daily volume of 314,902 shares. The stock had previously closed at $4.05.

Several research analysts have recently commented on RBBN shares. BidaskClub lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Zacks Investment Research lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. National Securities lowered Ribbon Communications from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $3.50 in a research report on Thursday. TheStreet upgraded Ribbon Communications from a “d+” rating to a “c-” rating in a research report on Wednesday, August 21st. Finally, Northland Securities lowered Ribbon Communications from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $9.00 to $6.00 in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Ribbon Communications currently has a consensus rating of “Hold” and a consensus price target of $5.08.

The firm has a 50-day moving average price of $5.16 and a 200 day moving average price of $5.05. The firm has a market capitalization of $450.61 million, a PE ratio of 6.25 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.13.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, October 30th. The communications equipment provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). Ribbon Communications had a return on equity of 5.02% and a net margin of 3.25%. The firm had revenue of $137.65 million for the quarter, compared to analysts’ expectations of $156.66 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. Equities research analysts expect that Ribbon Communications Inc will post -0.24 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Ribbon Communications by 2.5% in the second quarter. BlackRock Inc. now owns 3,956,499 shares of the communications equipment provider’s stock valued at $19,347,000 after purchasing an additional 98,365 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in Ribbon Communications by 16.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,264,000 shares of the communications equipment provider’s stock valued at $15,961,000 after purchasing an additional 463,300 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Ribbon Communications by 13.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,141,743 shares of the communications equipment provider’s stock valued at $5,583,000 after purchasing an additional 131,472 shares during the period. Horrell Capital Management Inc. boosted its holdings in Ribbon Communications by 16.4% in the second quarter. Horrell Capital Management Inc. now owns 815,000 shares of the communications equipment provider’s stock valued at $3,985,000 after purchasing an additional 115,000 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Ribbon Communications in the second quarter valued at $3,278,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.

About Ribbon Communications (NASDAQ:RBBN)

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables secure and innovative business and consumer communications services.

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