ADTRAN (NASDAQ:ADTN) Now Covered by Craig Hallum

Research analysts at Craig Hallum initiated coverage on shares of ADTRAN (NASDAQ:ADTN) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $15.00 price target on the communications equipment provider’s stock. Craig Hallum’s target price would suggest a potential upside of 55.60% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Needham & Company LLC upped their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Northland Securities lifted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.00 to $10.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.50.

ADTRAN Trading Down 0.3 %

NASDAQ ADTN opened at $9.64 on Wednesday. The firm has a market capitalization of $764.51 million, a PE ratio of -1.48 and a beta of 1.28. The business’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $6.53. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN has a 12 month low of $4.34 and a 12 month high of $9.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. American Century Companies Inc. raised its holdings in shares of ADTRAN by 17.9% during the second quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock valued at $475,000 after purchasing an additional 13,688 shares during the period. Massachusetts Financial Services Co. MA raised its stake in ADTRAN by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after buying an additional 2,396 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after acquiring an additional 142,100 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of ADTRAN by 327.5% during the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock valued at $282,000 after acquiring an additional 40,653 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Company Profile

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.