ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Rating of “Moderate Buy” by Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.67.

Several brokerages recently commented on ADTN. StockNews.com cut shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday. Northland Capmk upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research note 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 note on Monday, May 20th. Finally, Northland Securities upgraded shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a research note on Wednesday, May 8th.

ADTRAN Stock Up 5.7 %

ADTN stock opened at $6.48 on Monday. ADTRAN has a one year low of $4.34 and a one year high of $10.27. The stock has a market capitalization of $512.70 million, a PE ratio of -0.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.46. The company has a fifty day moving average of $5.43 and a 200-day moving average of $5.68.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The company had revenue of $226.17 million during the quarter, compared to analysts’ expectations of $223.00 million. As a group, analysts expect that ADTRAN will post -0.23 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new stake in ADTRAN in the fourth quarter valued at approximately $306,000. Federated Hermes Inc. purchased a new stake in ADTRAN in the fourth quarter valued at approximately $8,363,000. Kovack Advisors Inc. grew its holdings in ADTRAN by 157.9% in the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock valued at $3,176,000 after purchasing an additional 264,950 shares during the period. William Blair Investment Management LLC grew its holdings in ADTRAN by 22.5% in the first 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 during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in ADTRAN during the fourth quarter valued at approximately $507,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.