Ribbon Communications Inc. (RBBN) Short Interest Up 39.6% in January
Ribbon Communications Inc. (NASDAQ:RBBN) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 2,188,874 shares, a growth of 39.6% from the January 12th total of 1,567,829 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 354,900 shares, the days-to-cover ratio is presently 6.2 days.
A number of research analysts have weighed in on RBBN shares. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Monday, October 30th. Cowen reaffirmed a “sell” rating on shares of Ribbon Communications in a report on Tuesday, October 17th. Zacks Investment Research raised Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 target price for the company in a report on Thursday, October 19th. ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Finally, TheStreet raised Ribbon Communications from a “d+” rating to a “c” rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.25.
Ribbon Communications (RBBN) opened at $6.83 on Wednesday. The firm has a market capitalization of $678.69, a PE ratio of -15.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.67. Ribbon Communications has a twelve month low of $5.77 and a twelve month high of $9.05.
COPYRIGHT VIOLATION WARNING: This report was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://theolympiareport.com/2018/02/14/ribbon-communications-inc-rbbn-short-interest-up-39-6-in-january.html.
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.
Receive News & Ratings for Ribbon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ribbon Communications and related companies with MarketBeat.com's FREE daily email newsletter.