StockNews.com Upgrades ADTRAN (NASDAQ:ADTN) to “Hold”

by · The Cerbat Gem

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTN – Free Report) from a sell rating to a hold rating in a research report report published on Wednesday.

Several other brokerages have also issued reports on ADTN. Needham & Company LLC restated a buy rating and issued a $8.00 price objective on shares of ADTRAN in a report on Thursday, August 8th. Rosenblatt Securities reissued a neutral rating and issued a $6.00 price target on shares of ADTRAN in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $7.17.

View Our Latest Report on ADTN

ADTRAN Stock Up 0.5 %

Shares of NASDAQ ADTN opened at $5.88 on Wednesday. The company has a market capitalization of $465.21 million, a P/E ratio of -0.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.31 and a quick ratio of 1.31. The company has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $5.35. ADTRAN has a 1 year low of $4.34 and a 1 year high of $8.07.

ADTRAN (NASDAQ:ADTN – Get Free Report) last posted its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. The business had revenue of $225.99 million for the quarter, compared to analyst estimates of $225.95 million. On average, equities research analysts predict that ADTRAN will post -0.41 earnings per share for the current year.

Institutional Trading of ADTRAN

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC acquired a new position in shares of ADTRAN in the third quarter valued at approximately $65,000. Point72 DIFC Ltd purchased a new stake in shares of ADTRAN during the second quarter worth $69,000. SG Americas Securities LLC acquired a new stake in shares of ADTRAN in the second quarter valued at $90,000. PEAK6 Investments LLC raised its stake in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after acquiring an additional 3,911 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in ADTRAN during the 2nd quarter worth $120,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

About ADTRAN

(Get Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.

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