Ribbon Communications Inc (NASDAQ: RBBN) is 27.93% higher on its value in year-to-date trading and has touched a low of $1.78 and a high of $3.95 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RBBN stock was last observed hovering at around $3.43 in the last trading session, with the day’s gains setting it 0.28%.
Currently trading at $3.71, the stock is 11.86% and 15.48% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.77 million and changing 8.16% at the moment leaves the stock 18.35% off its SMA200. RBBN registered 90.26% gain for a year compared to 6-month loss of 14.51%. The firm has a 50-day simple moving average (SMA 50) of $3.2128 and a 200-day simple moving average (SMA200) of $3.13475.
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The stock witnessed a 17.41% gain in the last 1 month and extending the period to 3 months gives it a 14.33%, and is 4.21% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.63% over the week and 4.28% over the month.
Ribbon Communications Inc (RBBN) has around 3107 employees, a market worth around $647.51M and $808.92M in sales. Fwd P/E is 12.71. Profit margin for the company is -6.62%. Distance from 52-week low is 108.43% and -6.08% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.03%).
Ribbon Communications Inc quarterly earnings per share for the current quarter are estimated at 0.14 with sales reaching $250.27M over the same period.The EPS is expected to grow by 3.81% this year, but quarterly earnings will post 0.60% year-over-year. Quarterly sales are estimated to grow 10.50% in year-over-year returns.
188.0 institutions hold shares in Ribbon Communications Inc (RBBN), with institutional investors hold 88.77% of the company’s shares. The shares outstanding are 172.08M, and float is at 142.93M with Short Float at 0.92%. Institutions hold 72.84% of the Float.
The top institutional shareholder in the company is JPMORGAN CHASE & CO with over 52.04 million shares valued at $171.2 million. The investor’s holdings represent 30.1794 of the RBBN Shares outstanding. As of 2024-06-30, the second largest holder is NEUBERGER BERMAN GROUP LLC with 17.78 million shares valued at $76.49 million to account for 10.3114 of the shares outstanding. The other top investors are PARADIGM CAPITAL MANAGEMENT INC/NY which holds 10.55 million shares representing 6.1164 and valued at over $34.7 million, while BLACKROCK INC. holds 4.2823 of the shares totaling 7.38 million with a market value of $24.29 million.
Ribbon Communications Inc (RBBN) Insider Activity
The most recent transaction is an insider sale by INFANTE BEATRIZ V, the company’s Director. SEC filings show that INFANTE BEATRIZ V sold 5,790 shares of the company’s common stock on Sep 13 ’24 at a price of $3.04 per share for a total of $17602.0. Following the sale, the insider now owns 0.3 million shares.
Still, SEC filings show that on Mar 15 ’24, LOPEZ MIGUEL A (EVP, CFO) acquired 2,000 shares at an average price of $2.90 for $5798.0. The insider now directly holds 280,875 shares of Ribbon Communications Inc (RBBN).
