ADTRAN (NASDAQ:ADTN) Rating Increased to Buy at Wall Street Zen

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

ADTN has been the subject of several other research reports. Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC lowered their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $12.00.

ADTRAN Price Performance

Shares of ADTN stock traded down $0.05 during trading hours on Friday, reaching $7.89. The company had a trading volume of 976,918 shares, compared to its average volume of 835,167. ADTRAN has a 12-month low of $4.62 and a 12-month 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 has a market capitalization of $631.04 million, a price-to-earnings ratio of -4.64 and a beta of 1.30. The stock has a fifty day moving average of $7.89 and a 200-day moving average of $8.92.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping 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 quarter last year, the company earned $0.02 EPS. ADTRAN's quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On ADTRAN

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in ADTRAN in the 1st quarter valued at approximately $560,000. Caxton Associates LLP acquired a new stake in shares of ADTRAN in the first quarter valued at $806,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of ADTRAN by 97.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 46,026 shares of the communications equipment provider's stock valued at $401,000 after buying an additional 22,726 shares during the period. Petrus Trust Company LTA purchased a new position in ADTRAN during the 1st quarter valued at about $274,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider's stock worth $408,000 after purchasing an additional 1,946 shares during the period. 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.