In a filing, Ribbon Communications Inc revealed its EVP, CFO LOPEZ MIGUEL A acquired Company’s shares for reported $5798.0 on Mar 15 ’24. In the deal valued at $2.90 per share,2,000 shares were bought. As a result of this transaction, LOPEZ MIGUEL A now holds 280,875 shares worth roughly $0.96 million.
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Then, GRAYSON BRUNS H bought 100,000 shares, generating $289,000 in total proceeds. Upon buying the shares at $2.89, the Director now owns 590,175 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 $0.95 million.
Rosenblatt initiated its Ribbon Communications Inc [RBBN] rating to a Buy in a research note published on July 11, 2024; the price target was $5. Craig Hallum began covering RBBN with “Buy” recommendation on July 19, 2023. JMP Securities started covering the stock on April 10, 2023. It rated RBBN as “a Mkt outperform”.
Price Performance Review of RBBN
On Friday, Ribbon Communications Inc [NASDAQ:RBBN] saw its stock fall -0.58% to $3.41. Over the last five days, the stock has gained 0.89%. Ribbon Communications Inc shares have risen nearly 17.59% since the year began. Nevertheless, the stocks have risen 16.38% over the past one year. While a 52-week high of $3.95 was reached on 07/23/24, a 52-week low of $1.78 was recorded on 04/22/24. SMA at 50 days reached $3.30, while 200 days put it at $3.00.
Levels Of Support And Resistance For RBBN Stock
The 24-hour chart illustrates a support level at 3.37, which if violated will result in even more drops to 3.34. On the upside, there is a resistance level at 3.45. A further resistance level may holdings at 3.49. The Relative Strength Index (RSI) on the 14-day chart is 57.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.98%. Stochastics %K at 84.78% indicates the stock is a selling.
How much short interest is there in Ribbon Communications Inc?
A steep rise in short interest was recorded in Ribbon Communications Inc stocks on 2024-08-15, dropping by -0.69 million shares to a total of 1.56 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 2.25 million shares. There was a decline of -44.43%, which implies that there is a negative sentiment for the stock.
