Ribbon Communications Inc’s filing revealed that its Director GRAYSON BRUNS H acquired Company’s shares for reported $0.29 million on Mar 15 ’24. In the deal valued at $2.89 per share,100,000 shares were bought. As a result of this transaction, GRAYSON BRUNS H now holds 590,175 shares worth roughly $1.54 million.
Then, LOPEZ MIGUEL A bought 2,000 shares, generating $5,798 in total proceeds. Upon buying the shares at $2.90, the EVP, CFO now owns 280,875 shares.
Before that, LOPEZ MIGUEL A bought 1,000 shares. Ribbon Communications Inc shares valued at $2,979 were divested by the EVP, CFO at a price of $2.98 per share. As a result of the transaction, LOPEZ MIGUEL A now holds 278,875 shares, worth roughly $0.73 million.
Craig Hallum initiated its Ribbon Communications Inc [RBBN] rating to a Buy in a research note published on July 19, 2023; the price target was $5.50. A number of analysts have revised their coverage, including JMP Securities’s analysts, who began to cover the stock in early April with a ‘”a Mkt outperform”‘ rating. B. Riley Securities started covering the stock on January 26, 2021. It rated RBBN as “a Buy”.
Price Performance Review of RBBN
On Tuesday, Ribbon Communications Inc [NASDAQ:RBBN] saw its stock fall -2.25% to $2.61. Over the last five days, the stock has lost -12.71%. Ribbon Communications Inc shares have fallen nearly -10.00% since the year began. Nevertheless, the stocks have fallen -6.79% over the past one year. While a 52-week high of $3.65 was reached on 02/15/24, a 52-week low of $1.78 was recorded on 04/16/24. SMA at 50 days reached $3.03, while 200 days put it at $2.75. A total of 0.34 million shares were traded, compared to the trading of 0.3 million shares in the previous session.
Levels Of Support And Resistance For RBBN Stock
The 24-hour chart illustrates a support level at 2.56, which if violated will result in even more drops to 2.52. On the upside, there is a resistance level at 2.64. A further resistance level may holdings at 2.68. The Relative Strength Index (RSI) on the 14-day chart is 29.83, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.21%. Stochastics %K at 8.61% indicates the stock is a buying.
