ADTRAN (NASDAQ:ADTN) Trading 5.5% Higher - Should You Buy?

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC cut 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. Wall Street Zen upgraded shares of ADTRAN from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADTRAN has a consensus rating of "Buy" and a consensus price target of $12.00.

ADTRAN Trading Down 1.9%

The company has a market cap of $700.62 million, a price-to-earnings ratio of -5.15 and a beta of 1.30. The company has a quick ratio of 1.18, a current ratio of 2.02 and a debt-to-equity ratio of 1.37. The company's 50-day moving average is $7.98 and its 200 day moving average is $8.93.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same period last year, the business earned $0.02 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Institutional Trading of ADTRAN

Institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC grew its position in shares of ADTRAN by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider's stock valued at $38,711,000 after purchasing an additional 114,986 shares during the period. GAMMA Investing LLC grew its position in shares of ADTRAN by 762.1% in the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 24,182 shares during the period. Quantbot Technologies LP grew its position in shares of ADTRAN by 104.5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after purchasing an additional 7,636 shares during the period. American Century Companies Inc. grew its position in shares of ADTRAN by 53.5% in the fourth quarter. American Century Companies Inc. now owns 172,100 shares of the communications equipment provider's stock valued at $1,434,000 after purchasing an additional 59,985 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of ADTRAN in the fourth quarter valued at about $2,146,000. Institutional investors and hedge funds own 80.56% of the company's stock.

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.