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.

Several hedge funds and other institutional investors have recently modified their holdings of RBBN. Teacher Retirement System of Texas purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $110,000. Bank of Montreal Can purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $152,000. Nwam LLC purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $164,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $186,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $194,000. 32.99% of the stock is owned by institutional investors.

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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.

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