Shares last traded at $8.01 barely above the 50 day moving average which is $7.45 and a tad above the 200 day moving average of $7.34. The 50 day moving average was up by +7.49% and the 200 day average went up $0.67 or +9.20%. Trading was light with 4,330 shares changing hands in the last trading session. Volume was down 99.46% under the stocks average daily volume.
Traders are feeling more bullish on shares of the company as inferred by the downtick in short interest. The firm recorded a fall in short interest of -5.87% as of the latest report on September 29, 2017. Short shares fell from 977,253 to 919,851 over that period. The days to cover increased to 5.0 and the percentage of shorted shares is 0.02% as of September 29.
These funds have shifted positions in (SONS). Ubs Group Ag bolstered its holdings by buying 600 shares an increase of 53.6% in the quarter. Ubs Group Ag now controls 1,720 shares worth $13,000. The value of the position overall is up by 85.7%. Nwam LLC downsized its investment by shedding 1,950 shares a decrease of 7.8%. Nwam LLC claims 23,065 shares valued at $172,000. The total value of its holdings increased 4.2%.
Hawk Ridge Capital Management Lp divested its position by shedding 404,846 shares a decrease of 31.3% from 03/31/2017 to 06/30/2017. Hawk Ridge Capital Management Lp owns 887,555 shares with a value of $6,603,000. The value of the position overall is down by 22.5%. Cutler Group LP trimmed its ownership by selling 6,289 shares a decrease of 82.0% as of 09/30/2017. Cutler Group LP now holds 1,380 shares with a value of $10,000. The value of the position overall is down by 82.5%.
On August 7 the company was upgraded from “Buy” to “Buy” and a price target of $8.50 was set in a statement from DA Davidson.
In the latest earnings report the EPS was $-0.60 and is expected to be $0.25 for the current year with 49,686,000 shares outstanding. Next quarter’s EPS is estimated at $0.14 and the next full year EPS is projected to be $0.29.
Sonus Networks, Inc. (Sonus), launched on August 7, 1997, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks. Its products include session border controllers (SBCs), diameter signaling controllers (DSCs) and VoWiFi solutions. The Business’s solutions enable the delivery of real-time communication applications over wireline and wireless IP infrastructure. Sonus Products include Sonus Session Border Controllers, Sonus GSX9000 Open Services Switch, Sonus T7000 Intelligent Switching System, Sonus Diameter Signaling Controllers, Sonus Signal Transfer Points, Sonus PSX Policy & Routing Server, Sonus WebRTC Services Solution, Sonus Network Management Solutions and Virtualized Mobile Core (VMC) Solution..