ADTRAN (NASDAQ:ADTN) Shares Down 4.4% - Here's Why

Key Points

• Shares of ADTRAN Holdings, Inc. dropped 4.4% to $10.14, with trading volume falling by 91% compared to its average session.
• The company reported a loss of $0.26 EPS for the last quarter, missing estimates, despite a revenue increase of 17.3% year-over-year.
• ADTRAN has an average analyst rating of "Moderate Buy" with a target price of $12.00, as four analysts rated it a Buy and one a Hold.

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) traded down 4.4% during trading on Friday . The stock traded as low as $10.17 and last traded at $10.14. 97,012 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,078,424 shares. The stock had previously closed at $10.61.

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research assumed coverage on ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Wall Street Zen cut ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.00.

ADTRAN Price Performance

The stock has a market capitalization of $834.99 million, a P/E ratio of -7.97 and a beta of 1.39. The business has a fifty day simple moving average of $9.30 and a 200-day simple moving average of $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.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $265.07 million for the quarter, compared to analyst estimates of $255.57 million. During the same period in the previous year, the company earned ($0.24) earnings per share. ADTRAN's revenue for the quarter was up 17.3% compared to the same quarter last year. Sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. purchased a new stake in ADTRAN in the 2nd quarter valued at $27,000. FNY Investment Advisers LLC purchased a new stake in ADTRAN in the 1st quarter worth about $65,000. New York State Teachers Retirement System bought a new stake in shares of ADTRAN in the second quarter valued at approximately $65,000. Park Avenue Securities LLC bought a new stake in shares of ADTRAN in the second quarter valued at approximately $91,000. Finally, Ballentine Partners LLC bought a new stake in shares of ADTRAN in the first quarter valued at approximately $94,000. 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.