ADTRAN (NASDAQ:ADTN) Hits New 52-Week Low - Should You Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report)'s stock price reached a new 52-week low on Wednesday. The company traded as low as $6.76 and last traded at $6.87, with a volume of 1161657 shares. The stock had previously closed at $6.80.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADTN. Weiss Ratings cut shares of ADTRAN from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 16th. Needham & Company LLC cut their price objective on shares of ADTRAN from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Rosenblatt Securities reduced their target price on shares of ADTRAN from $20.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Evercore set a $11.00 target price on shares of ADTRAN in a research report on Wednesday, August 5th. Finally, Craig Hallum set a $12.00 target price on shares of ADTRAN in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.67.

ADTRAN Stock Up 1.0%

The firm has a fifty day moving average of $7.86 and a 200-day moving average of $12.11. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The firm has a market cap of $559.77 million, a P/E ratio of -24.53, a price-to-earnings-growth ratio of 4.16 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The company had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in ADTRAN during the second quarter worth $27,000. Persistent Asset Partners Ltd bought a new position in shares of ADTRAN in the 2nd quarter valued at about $28,000. L2 Asset Management LLC bought a new position in shares of ADTRAN in the 2nd quarter valued at about $142,000. GTS Securities LLC bought a new position in shares of ADTRAN in the 2nd quarter valued at about $162,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of ADTRAN during the 1st quarter worth about $149,000. 80.56% of the stock is owned by institutional investors.

About ADTRAN

ADTRAN Holdings, Inc NASDAQ: ADTN is a provider of networking and communications equipment, software and services for telecommunications companies, broadband providers, enterprises and government organizations. The company develops solutions that help service providers build and manage high-speed access networks, including fiber, fixed wireless and other broadband technologies.

Its portfolio includes access and aggregation platforms, optical networking systems, routers, switches, Wi-Fi equipment, cloud and network management software, and related professional and support services.

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