ADTRAN (NASDAQ:ADTN) Trading Up 5.5% - Still a Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report)'s stock price was up 5.5% during trading on Monday . The company traded as high as $8.23 and last traded at $8.33. Approximately 276,378 shares traded hands during trading, a decline of 67% from the average daily volume of 833,107 shares. The stock had previously closed at $7.89.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADTN. Wall Street Zen raised shares of ADTRAN from a "hold" rating to a "buy" rating in a report on Saturday. Rosenblatt Securities decreased their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ADTRAN presently has an average rating of "Buy" and a consensus price target of $12.00.

ADTRAN Stock Performance

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 stock has a fifty day moving average price of $7.89 and a two-hundred day moving average price of $8.93. The company has a market cap of $665.83 million, a P/E ratio of -4.90 and a beta of 1.30.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share 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 company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. On average, equities analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in ADTRAN during the first quarter valued at approximately $560,000. Caxton Associates LLP acquired a new stake in shares of ADTRAN during the 1st quarter valued at $806,000. Dynamic Technology Lab Private Ltd lifted its position in shares of ADTRAN by 97.5% during 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 acquiring an additional 22,726 shares during the last quarter. Petrus Trust Company LTA acquired a new position in shares of ADTRAN in the 1st quarter worth $274,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider's stock worth $408,000 after acquiring an additional 1,946 shares during the last quarter. 80.56% of the stock is currently 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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