Stock News Update: Ribbon Communications Inc. (NASDAQ:RBBN)

Ribbon Communications Inc. (NASDAQ:RBBN) stock observed trading -50.08% off 52-week high price. On the other end, the stock has been noted 51.79% away from low price over the last 52-weeks. The stock disclosed a move of 0.96% away from 50 day moving average and -27.27% away from 200 day moving average. Moving closer, we can see that shares have been trading 10.82% off 20-day moving average. It has market cap of $323.62M.

On April 9, 2020, Ribbon Communications Inc. (NASDAQ:RBBN) a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, released that LogMeIn (Nasdaq: LOGM), a market leader in remote work, including solutions for unified communications and collaboration (UCC), identity and access management, and customer engagement and support, is leveraging key solutions from Ribbon’s comprehensive cloud and edge software portfolio to help meet increased network traffic demands.

Due to the impact of the COVID-19 pandemic, many organizations are increasingly turning to LogMeIn’s popular UCC portfolio, including products like GoToMeeting and GoToWebinar, to support their remote workforces. Ribbon’s market-leading Session Border Controller (SBC) 7000, Policy and Routing Solution (PSX), C3 Call Session Controller, and G9 Media Gateway all support LogMeIn’s advanced Competitive Local Exchange Carrier (CLEC) and Public Switched Telephone Network (PSTN) operations for the company’s UCC products. In addition, LogMeIn is taking advantage of Ribbon’s Network-Wide License (NWL) model with burst licensing to enable greater flexibility to meet dynamically changing network capacity demands.

The USA based company Ribbon Communications Inc. moved with change of -2.95% to $2.96 with the total traded volume of 485740 shares in recent session versus to an average volume of 422.16K. The stock was observed in the 5 days activity at 6.47%. The one month performance of stock was 14.73%. RBBN’s shares are at -8.92% for the quarter and driving a -43.08% return over the course of the past year and is now at -4.52% since this point in 2018.  Right now the stock beta is 0.81. The average volatility for the week and month was at 8.01% and 13.26% respectively. There are 109.33M shares outstanding and 83.00M shares are floated in market.