Boston, MA 05/30/2013 (wallstreetpr) – Sonus Networks Inc. (NASDAQ:SONS), the provider of network solutions for communication services companies had surged in the share prices by 12.45 percent to close at $2.89 per share for the end of last trading session. The shares of the company had been trading in the range of $2.65 to $2.90 during the day before closing at $0.32 per share higher than the previous closing price.
Sonus Networks Inc. (NASDAQ:SONS) is basically involved in providing networking solutions to the communication service providers so as to enable them to unify their communications and improve collaborations. The customers of the company include telecommunications, wireless and cable services providers.
The product lines of Sonus Networks Inc. (NASDAQ:SONS) cater to the needs of communication service providers to seamlessly link and leverage multivendor, multiprotocol communications systems and applications across their networks around the world. The product candidates of the company also enable networking solutions and related collaborations in the rapidly developing markets of smart phones and tablets.
With the recent increase in share prices of Sonus Networks Inc. (NASDAQ:SONS), the analysts have improved the rating to the company from hold to buy owing to strong fundamentals. The shares of the networking solutions provider had thereby adjusted its 52 week high price to the new level of $2.90 per share, while the 52 week low price level for the company is at $1.36 per share.
Sonus Networks Inc. (NASDAQ:SONS) presently holds 282.23 million shares outstanding with an institutional ownership of 53 percent of its holdings.
