ADTRAN (NASDAQ:ADTN) Lowered to “Sell” at StockNews.com

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

Several other brokerages have also issued reports on ADTN. Northland Securities upgraded 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. Needham & Company LLC reiterated a buy rating and issued a $8.00 target price on shares of ADTRAN in a research note on Monday, May 20th. Finally, Northland Capmk raised shares of ADTRAN from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $7.17.

ADTRAN Trading Down 2.4 %

Shares of NASDAQ ADTN traded down $0.12 during trading hours on Tuesday, hitting $4.78. 649,933 shares of the company traded hands, compared to its average volume of 956,206. The stock has a market capitalization of $378.18 million, a price-to-earnings ratio of -0.69 and a beta of 1.21. The company’s 50 day moving average price is $5.50 and its 200 day moving average price is $5.58. ADTRAN has a 12 month low of $4.34 and a 12 month high of $8.81. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

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

Institutional Investors Weigh In On ADTRAN

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADTN. DNB Asset Management AS raised its holdings in shares of ADTRAN by 33.4% during the second quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock valued at $24,364,000 after acquiring an additional 1,159,809 shares during the last quarter. William Blair Investment Management LLC boosted its stake in 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 worth $24,241,000 after purchasing an additional 817,762 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of ADTRAN by 11.7% in the fourth quarter. First Eagle Investment Management LLC now owns 1,270,307 shares of the communications equipment provider’s stock valued at $9,324,000 after buying an additional 133,500 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of ADTRAN by 25.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock worth $6,446,000 after buying an additional 237,739 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in ADTRAN in the 4th quarter worth approximately $8,363,000. 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.