ADTRAN (NASDAQ:ADTN) Upgraded at Wall Street Zen

ADTRAN (NASDAQ:ADTN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other research analysts have also recently issued reports on ADTN. Needham & Company LLC decreased their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Rosenblatt Securities decreased 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $12.00.

ADTRAN Price Performance

NASDAQ:ADTN traded up $0.22 during trading hours on Friday, reaching $8.68. 1,030,622 shares of the company were exchanged, compared to its average volume of 1,063,917. The company has a market capitalization of $694.23 million, a P/E ratio of -5.11 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. The business has a 50 day moving average of $7.90 and a 200 day moving average of $8.93. ADTRAN has a 1-year low of $4.62 and a 1-year high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings results 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 return on equity of 20.07% and a negative net margin of 14.58%. During the same period in the prior year, the firm earned $0.02 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that ADTRAN will post -0.5 EPS for the current year.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently modified their holdings of ADTN. Aquatic Capital Management LLC boosted its position in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in ADTRAN during the first quarter worth approximately $65,000. Ballentine Partners LLC acquired a new stake in ADTRAN during the first quarter worth approximately $94,000. Financial Engines Advisors L.L.C. bought a new stake in ADTRAN in the first quarter worth approximately $106,000. Finally, SIH Partners LLLP acquired a new position in ADTRAN in the fourth quarter valued at approximately $107,000. 80.56% of the stock is owned by 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.