Ribbon Communications Inc. (NASDAQ:RBBN) has a beta value of 0.74 and has seen 535,736 shares traded in the last trading session. The company, currently valued at $854.21 Million, closed the last trade at $5.88 per share which meant it gained $0.09 on the day or 1.47% during that session. The RBBN stock price is -2.89% off its 52-week high price of $6.05 and 66.84% above the 52-week low of $1.95. If we look at the company’s 10-day average daily trading volume, we find that it stood at 565.6 Million shares traded. The 3-month trading volume is 323.17 Million shares.
Ribbon Communications Inc. (NASDAQ:RBBN) trade information
Sporting 1.47% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the RBBN stock price touched $6.05-2 or saw a rise of 2.89%. Year-to-date, Ribbon Communications Inc. shares have moved 89.52%, while the 5-day performance has seen it change 25.8%. Over the past 30 days, the shares of Ribbon Communications Inc. (NASDAQ:RBBN) have changed 46.88%. Short interest in the company has seen 2.29 Million shares shorted with days to cover at 0.01.
Ribbon Communications Inc. (RBBN) estimates and forecasts
Figures show that Ribbon Communications Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +44.7% over the past 6 months, with this year growth rate of -25.53%, compared to 50.2% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -55.6% and 100% for the next quarter. Revenue growth from the last financial year stood is estimated to be +48.6%.
2 analysts offering their estimates for the company have set an average revenue estimate of $241.97 Million for the current quarter. 2 have an estimated revenue figure of $194.74 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $161.11 Million for this quarter, and analysts expect sales will grow by 50.2% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -28.7% over the past 5 years. Earnings growth for 2020 is a modest -60.4% while over the next 5 years, the company’s earnings are expected to increase by 12%.
Ribbon Communications Inc. (NASDAQ:RBBN)’s Major holders
Insiders own 19.78% of the company shares, while shares held by institutions stand at 65.86% with a share float percentage of 82.1%. Investors are also buoyed by the number of investors in a company, with Ribbon Communications Inc. having a total of 164 institutions that hold shares in the company. The top two institutional holders are JP Morgan Chase & Company with over 49.95 Million shares worth more than $193.3 Million. As of September 29, 2020, JP Morgan Chase & Company held 34.35% of shares outstanding.
The other major institutional holder is Paradigm Capital Management, with the holding of over 8.32 Million shares as of September 29, 2020. The firm’s total holdings are worth over $32.19 Million and represent 5.72% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of June 29, 2020, the former fund manager holds about 1.12% shares in the company for having 1625825 shares of worth $6.39 Million while later fund manager owns 1.41 Million shares of worth $5.45 Million as of September 29, 2020, which makes it owner of about 0.97% of company’s outstanding stock.