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Ribbon Communications Inc (RBBN) gets rating Resumed from JMP Securities

In a filing, Ribbon Communications Inc revealed 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 $1.91 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 $0.9 million.

A number of analysts have revised their coverage, including Craig Hallum’s analysts, who began to cover the stock in mid July with a ‘”a Buy”‘ rating. JMP Securities began covering RBBN with “Mkt outperform” recommendation on April 10, 2023.

Price Performance Review of RBBN

On Tuesday, Ribbon Communications Inc [NASDAQ:RBBN] saw its stock jump 3.51% to $3.24. Over the last five days, the stock has gained 4.18%. Ribbon Communications Inc shares have risen nearly 11.72% since the year began. Nevertheless, the stocks have risen 28.06% 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 04/22/24. SMA at 50 days reached $2.98, while 200 days put it at $2.74. A total of 0.28 million shares were traded, compared to the trading of 0.24 million shares in the previous session.

Levels Of Support And Resistance For RBBN Stock

The 24-hour chart illustrates a support level at 3.16, which if violated will result in even more drops to 3.09. On the upside, there is a resistance level at 3.29. A further resistance level may holdings at 3.34. The Relative Strength Index (RSI) on the 14-day chart is 60.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.96%. Stochastics %K at 43.49% indicates the stock is a holding.

The most recent change occurred on January 26, 2021 when B. Riley Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $10 price target.

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