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

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

ADTN has been the topic of several other reports. Rosenblatt Securities reaffirmed a neutral rating and set a $6.00 price target on shares of ADTRAN in a research note on Wednesday, August 7th. Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of ADTRAN in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $7.17.

ADTRAN Trading Up 0.5 %

Shares of ADTN stock opened at $5.88 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The stock has a market cap of $465.21 million, a P/E ratio of -0.86 and a beta of 1.19. The business has a fifty day simple moving average of $5.53 and a 200-day simple moving average of $5.34. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $8.07.

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

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its stake in shares of ADTRAN by 22.5% in the 1st quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock valued at $24,241,000 after purchasing an additional 817,762 shares in the last quarter. Renaissance Technologies LLC grew its stake in ADTRAN by 26.4% during the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after buying an additional 142,100 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of ADTRAN in the fourth quarter worth $507,000. Paradigm Capital Management Inc. NY increased its holdings in ADTRAN by 173.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in ADTRAN during the 1st quarter worth approximately $356,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.