ADTRAN (NASDAQ:ADTN) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen downgraded shares of ADTRAN (NASDAQ:ADTN - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

ADTN has been the topic of a number of other research reports. Rosenblatt Securities reduced their price target on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research started coverage on ADTRAN in a research note on Monday. They set a "peer perform" rating on the stock. Finally, Needham & Company LLC reduced their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Price Performance

ADTN stock traded down $0.21 on Friday, reaching $9.20. The company had a trading volume of 543,104 shares, compared to its average volume of 852,724. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 2.02. The company's fifty day moving average is $8.35 and its 200 day moving average is $8.99. The company has a market cap of $735.82 million, a P/E ratio of -5.41 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. During the same period last year, the company posted $0.02 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts forecast that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Quantinno Capital Management LP raised its position in shares of ADTRAN by 4.3% in the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock worth $176,000 after buying an additional 877 shares during the period. Catalyst Funds Management Pty Ltd raised its position in shares of ADTRAN by 6.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock worth $190,000 after buying an additional 1,300 shares during the period. Hsbc Holdings PLC raised its position in shares of ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after buying an additional 1,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ADTRAN by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock worth $373,000 after buying an additional 1,605 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in ADTRAN by 0.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock valued at $2,320,000 after purchasing an additional 1,670 shares in the last quarter. 80.56% of the stock is 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.