ADTRAN (NASDAQ:ADTN) Cut to Sell at StockNews.com

StockNews.com downgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other brokerages also recently commented on ADTN. Northland Securities upgraded ADTRAN from a market perform rating to an outperform rating and set a $7.50 price objective for the company in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a buy rating and issued a $8.00 price objective on shares of ADTRAN in a research report on Monday, May 20th. Finally, Northland Capmk upgraded ADTRAN from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $7.67.

ADTRAN Stock Performance

ADTN opened at $5.50 on Tuesday. The firm has a market capitalization of $435.16 million, a P/E ratio of -0.80 and a beta of 1.21. The stock’s 50 day moving average price is $5.25 and its two-hundred day moving average price is $5.76. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 0.73. ADTRAN has a 12-month low of $4.34 and a 12-month high of $10.96.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. The firm had revenue of $226.17 million for the quarter, compared to analyst estimates of $223.00 million. On average, equities analysts forecast that ADTRAN will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently modified their holdings of ADTN. Cape Investment Advisory Inc. bought a new position in ADTRAN in the 4th quarter valued at $27,000. Nisa Investment Advisors LLC raised its position in ADTRAN by 20,809.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 6,867 shares during the last quarter. RPO LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at $84,000. Victory Capital Management Inc. increased its stake in shares of ADTRAN by 28.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after buying an additional 3,326 shares during the period. Finally, PEAK6 Investments LLC increased its stake in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after buying an additional 3,911 shares during the period. 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.