ADTRAN's (ADTN) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• ADTRAN's stock received a "sell (E+)" rating from Weiss Ratings, indicating ongoing negative sentiment from equity researchers.
• Despite the downgrade, ADTRAN shares increased by 2.7% to $9.09, though they remain below their 50-day average of $9.28.
• ADTRAN recently reported a quarterly loss of ($0.26) EPS, missing analysts' estimates, but experienced a 17.3% increase in revenue year-over-year.

ADTRAN (NASDAQ:ADTN - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

ADTN has been the subject of several other reports. Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Wolfe Research started coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, B. Riley initiated coverage on shares of ADTRAN in a research note on Thursday, September 18th. They set a "buy" rating and a $16.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ADTRAN presently has an average rating of "Moderate Buy" and a consensus target price of $12.80.

ADTRAN Stock Up 2.7%

Shares of NASDAQ:ADTN traded up $0.24 during trading on Wednesday, reaching $9.09. The stock had a trading volume of 290,732 shares, compared to its average volume of 1,237,451. The firm's 50-day simple moving average is $9.28 and its 200 day simple moving average is $8.68. The company has a market capitalization of $726.62 million, a P/E ratio of -6.92 and a beta of 1.37. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. ADTRAN has a one year low of $5.68 and a one year high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) 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 business had revenue of $265.07 million for the quarter, compared to analysts' expectations of $255.57 million. During the same period in the prior year, the business posted ($0.24) earnings per share. The business's quarterly revenue was up 17.3% compared to the same quarter last year. As a group, research analysts expect that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new position in shares of ADTRAN during the 1st quarter worth approximately $65,000. New York State Teachers Retirement System bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $65,000. Park Avenue Securities LLC bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $91,000. Finally, Ballentine Partners LLC bought a new position in shares of ADTRAN during the 1st quarter worth approximately $94,000. 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.

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