ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• ADTRAN Holdings, Inc. has received an average analyst rating of "Moderate Buy", with one analyst rating it as a hold and four as buy, setting a 12-month price target of $12.00.
• In its latest earnings report, ADTRAN posted a loss of ($0.26) earnings per share, missing the consensus estimate, while its revenue increased by 17.3% year-over-year, reaching $265.07 million.
• Hedge funds have shown significant interest in ADTRAN, with notable stake increases, such as GAMMA Investing boosting its position by 762.1% in the first quarter.

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have earned an average rating of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a 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 $12.00.

ADTN has been the subject of several research reports. Wall Street Zen lowered ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research began coverage on ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Needham & Company LLC reduced their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $9.12 on Tuesday. The stock has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $8.81. ADTRAN has a 1-year low of $4.93 and a 1-year high of $12.44. The firm has a market cap of $729.42 million, a price-to-earnings ratio of -6.96 and a beta of 1.30. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The firm had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. During the same period last year, the company posted ($0.24) earnings per share. ADTRAN's revenue for the quarter was up 17.3% on a year-over-year basis. Analysts anticipate that ADTRAN will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in ADTRAN by 762.1% during the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock valued at $239,000 after buying an additional 24,182 shares during the period. Lisanti Capital Growth LLC bought a new stake in ADTRAN during the first quarter valued at $1,880,000. BNP Paribas Financial Markets bought a new stake in ADTRAN during the fourth quarter valued at $399,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in ADTRAN by 310.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 167,590 shares of the communications equipment provider's stock valued at $1,461,000 after buying an additional 126,783 shares during the period. Finally, SG Americas Securities LLC boosted its stake in ADTRAN by 560.1% during the first quarter. SG Americas Securities LLC now owns 233,837 shares of the communications equipment provider's stock valued at $2,039,000 after buying an additional 198,413 shares during the period. 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.

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