ADTRAN (NASDAQ:ADTN) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• ADTRAN Holdings, Inc. shares crossed above the 200-day moving average at $8.67, trading as high as $9.06 with a recent trading price of $8.61.
• The stock has a current consensus rating of "Moderate Buy" with a price target of $12.80, though some analysts have differing ratings including "hold" and "sell."
• Institutional investors are actively buying ADTRAN shares, with holdings increasing by significant percentages, indicating strong institutional interest in the company.

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.67 and traded as high as $9.06. ADTRAN shares last traded at $8.61, with a volume of 1,177,670 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ADTN shares. B. Riley started coverage on shares of ADTRAN in a research report on Thursday, September 18th. They set a "buy" rating and a $16.00 price objective on the stock. Wall Street Zen cut shares of ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Wolfe Research assumed coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of ADTRAN in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.80.

ADTRAN Stock Performance

The company's 50 day moving average price is $9.27 and its 200-day moving average price is $8.67. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The company has a market cap of $688.63 million, a PE ratio of -6.57 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. The company had revenue of $358.27 million during the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. Equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. Royce & Associates LP boosted its holdings in ADTRAN by 188.5% in the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider's stock worth $12,265,000 after buying an additional 919,000 shares during the period. Invesco Ltd. boosted its holdings in ADTRAN by 325.4% in the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider's stock worth $10,317,000 after buying an additional 905,056 shares during the period. SG Capital Management LLC bought a new position in ADTRAN in the 2nd quarter worth approximately $7,601,000. Assenagon Asset Management S.A. boosted its holdings in ADTRAN by 691.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider's stock worth $8,749,000 after buying an additional 814,864 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in ADTRAN by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider's stock valued at $61,859,000 after purchasing an additional 501,512 shares during the period. 80.56% of the stock is owned by 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.

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