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Ribbon Communications Inc [RBBN] stock for 289,000 USD was bought by GRAYSON BRUNS H

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ribbon Communications Inc shares valued at $289,000 were purchased by GRAYSON BRUNS H on Mar 15 ’24. At $2.89 per share, GRAYSON BRUNS H acquired 100,000 shares. The insider’s holdings grew to 590,175 shares worth approximately $1.99 million following the completion of this transaction.

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Also, LOPEZ MIGUEL A purchased 2,000 shares, netting a total of over 5,798 in proceeds. Following the buying of shares at $2.90 each, the insider now holds 280,875 shares.

Before that, LOPEZ MIGUEL A had added 1,000 shares to its account. In a trade valued at $2,979, the EVP, CFO bought Ribbon Communications Inc shares for $2.98 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.94 million.

Analysts at Craig Hallum started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of April 10, 2023, JMP Securities has initiated its “Mkt outperform” rating for RBBN.

Analyzing RBBN Stock Performance

During the last five days, there has been a surge of approximately 10.82%. Over the course of the year, Ribbon Communications Inc shares have jumped approximately 16.55%. Shares of the company reached a 52-week high of $3.65 on 02/15/24 and a 52-week low of $2.46 on 04/22/24. A 50-day SMA is recorded $3.12, while a 200-day SMA reached $2.78. Nevertheless, trading volume fell to 0.13 million shares from 0.27 million shares the previous day.

Support And Resistance Levels for Ribbon Communications Inc (RBBN)

According to the 24-hour chart, there is a support level at 3.23, which, if violated, would cause prices to drop to 3.19. In the upper region, resistance lies at 3.31. The next price resistance is at 3.35. RSI (Relative Strength Index) is 69.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 13.36%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.

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