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Sonus Networks, Inc. (NASDAQ:SONS) near 52-week low on important volume, short interest down

March 27
08:17 2015

Sonus Networks, Inc. (NASDAQ:SONS) (TREND ANALYSIS) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $8.08, down by -3.58%, with a volume of 2,395,584 shares against an average volume for the last 3 months of 965,988.

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SONS is expected to report next quarter earnings on April 22. The Communications Equipment company’s earnings per share consensus Street estimate stands at $-0.06.

Sonus Networks, Inc. (NASDAQ:SONS) is currently trading 61.98% below its 52-week-high, 0.62% above its 52-week-low. The 12-months range for the stock is $8.03 – $21.25. Sonus Networks, Inc. (SONS) has a price to book ratio of 1.72 versus Nasdaq average of 4.19. SONS stock price has underperformed the Nasdaq by 61.4%. The Communications Equipment company is currently valued at $0.4 billion and its share price closed the last trading session at $8.08. The stock has a 50-day moving average of $15.73 and a 200-day moving average of $17.49.

Sonus Networks, Inc. (SONS) current short interest stands at 2.04 million shares. It has decreased by 5% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.97 million shares, the number of days required to cover the short positions stand at 0.6 day.

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There are currently twelve analysts that cover SONS stock. Of those twelve, six have a Buy rating, six have a Hold rating. On a consensus basis this yields to a Overweight rating. The consensus target price stands at $16.36.

A recent analyst activity consisted of Wunderlich downgrading their Buy rating to Hold on March 25. Wunderlich decreased price target from $17 to $9.5. This corresponds to a 17.57% upside from the last closing price. On the date of report, the stock closed at $8.38.

Northland Capital downgraded their Outperform rating to Market Perform on the same day, and decreased their price target from $23 to $10. This corresponds to a 23.76% upside from the last closing price.

Company profile

Sonus Networks, Inc. provides voice infrastructure products. The Company’s hardware and software enables customers to deploy an integrated, packet-based network carrying both voice and data traffic. Sonus markets and sells its products to service providers, including long distance carriers, wholesale carriers, Internet service providers, and cable operators.

About Author

Aaron Ryan

Aaron Ryan

Aaron Ryan covers energy and utilities for Markets Wired. Prior to his current role, Aaron was Head of Corporate Strategy at NRG Energy, a Fortune 500 power generation and renewable energy development company.

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