ADTRAN (NASDAQ:ADTN) Stock Rating Lowered by StockNews.com

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

ADTN has been the subject of a number of other research reports. Needham & Company LLC reissued a buy rating and set a $8.00 target price on shares of ADTRAN in a research report on Monday, May 20th. Northland Securities raised shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 target price for the company in a research report on Wednesday, May 8th. Finally, Northland Capmk raised shares of ADTRAN from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $7.67.

ADTRAN Stock Up 5.7 %

ADTN opened at $6.48 on Thursday. The firm has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.65. The company has a market cap of $512.70 million, a PE ratio of -0.94 and a beta of 1.21. ADTRAN has a 1 year low of $4.34 and a 1 year high of $10.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.46.

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

Institutional Trading of ADTRAN

Large investors have recently bought and sold shares of the company. DNB Asset Management AS boosted its stake in shares of ADTRAN by 33.4% during the 2nd quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock valued at $24,364,000 after buying an additional 1,159,809 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of ADTRAN during the 4th quarter valued at approximately $8,363,000. William Blair Investment Management LLC boosted its stake in shares of ADTRAN by 22.5% during 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 buying an additional 817,762 shares during the last quarter. Kovack Advisors Inc. boosted its stake in shares of ADTRAN by 157.9% during the 4th quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock valued at $3,176,000 after buying an additional 264,950 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of ADTRAN by 25.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock valued at $6,446,000 after buying an additional 237,739 shares during the last quarter. Institutional investors and hedge funds 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.