In last trading session, Ribbon Communications Inc. (NASDAQ:RBBN) saw 0.75 million shares changing hands with its beta currently measuring 0.95. Company’s recent per share price level of $5.86 trading at -$0.26 or -4.25% at ring of the bell on the day assigns it a market valuation of $872.38M. That closing price of RBBN’s stock is at a discount of -91.98% from its 52-week high price of $11.25 and is indicating a premium of 12.8% from its 52-week low price of $5.11. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.37 million shares which gives us an average trading volume of 357.93K if we extend that period to 3-months.
Ribbon Communications Inc. (NASDAQ:RBBN) trade information
Upright in the red during last session for losing -4.25%, in the last five days RBBN remained trading in the red while hitting it’s week-highest on Thursday, 01/13/22 when the stock touched $5.86 price level, adding 8.58% to its value on the day. Ribbon Communications Inc.’s shares saw a change of -3.14% in year-to-date performance and have moved -4.09% in past 5-day. Ribbon Communications Inc. (NASDAQ:RBBN) showed a performance of -1.18% in past 30-days. Number of shares sold short was 1.34 million shares which calculate 4.34 days to cover the short interests.
Ribbon Communications Inc. (RBBN) estimates and forecasts
Statistics highlight that Ribbon Communications Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -16.64% of value to its shares in past 6 months, showing an annual growth rate of 9.30% while that of industry is 2.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -16.70% in the current quarter and calculating 133.30% increase in the next quarter. This year revenue growth is estimated to rise 2.30% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $248.77 million for the same. And 3 analysts are in estimates of company making revenue of $200.03 million in the next quarter that will end on Mar 2022. Company posted $244.2 million and $193.52 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 1.90% while estimating it to be 3.40% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 24.20% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 151.70% while estimates for its earnings growth in next 5 years are of 12.00%.
Ribbon Communications Inc. is more likely to be releasing its next quarterly report between February 15 and February 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Ribbon Communications Inc. (NASDAQ:RBBN)’s Major holders
Insiders are in possession of 19.63% of company’s total shares while institution are holding 66.44 percent of that, with stock having share float percentage of 82.67%. Investors also watch the number of corporate investors in a company very closely, which is 66.44% institutions for Ribbon Communications Inc. that are currently holding shares of the company. JP Morgan Chase & Company is the top institutional holder at RBBN for having 49.95 million shares of worth $298.7 million. And as of Sep 29, 2021, it was holding 33.61% of the company’s outstanding shares.
The second largest institutional holder is Paradigm Capital Management, which was holding about 8.49 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 5.71% of outstanding shares, having a total worth of $50.74 million.
On the other hand, Vanguard Total Stock Market Index Fund and First Trust NASDAQ Cybersecurity ETF are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 1.86 million shares of worth $11.12 million or 1.25% of the total outstanding shares. The later fund manager was in possession of 1.78 million shares on Oct 30, 2021, making its stake of worth around $9.71 million in the company or a holder of 1.19% of company’s stock.