ADTRAN (NASDAQ:ADTN) Rating Lowered to Hold at Wall Street Zen

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

Several other research analysts have also recently weighed in on ADTN. 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. Rosenblatt Securities decreased their target price on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wolfe Research began coverage on shares of ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Stock Performance

Shares of NASDAQ ADTN traded down $0.21 during midday trading on Friday, reaching $8.93. 488,030 shares of the company were exchanged, compared to its average volume of 852,180. The stock has a fifty day simple moving average of $8.35 and a 200 day simple moving average of $9.00. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market cap of $714.52 million, a P/E ratio of -5.28 and a beta of 1.32. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of ADTRAN in the 2nd quarter valued at $348,000. Park Avenue Securities LLC acquired a new stake in shares of ADTRAN during the second quarter worth approximately $91,000. Strs Ohio acquired a new position in shares of ADTRAN during the first quarter valued at $560,000. Caxton Associates LLP acquired a new stake in ADTRAN during the 1st quarter worth about $806,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of ADTRAN by 97.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 46,026 shares of the communications equipment provider's stock valued at $401,000 after purchasing an additional 22,726 shares during the period. 80.56% of the stock is owned by hedge funds and other 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.