Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $7.08 and last traded at $7.1110, with a volume of 759003 shares traded. The stock had previously closed at $7.15.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ADTN. B. Riley Financial restated a "buy" rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Needham & Company LLC decreased their price target on shares of ADTRAN from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Rosenblatt Securities lowered their price objective on shares of ADTRAN from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings restated a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Finally, Zacks Research downgraded shares of ADTRAN from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.67.
Check Out Our Latest Stock Report on ADTRAN
ADTRAN Stock Performance
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 stock's fifty day moving average is $9.88 and its two-hundred day moving average is $12.48. The firm has a market capitalization of $578.10 million, a price-to-earnings ratio of -25.37, a P/E/G ratio of 4.60 and a beta of 1.47.
ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The firm had revenue of $281.15 million during the quarter, compared to analyst estimates of $290.19 million. ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.
Institutional Investors Weigh In On ADTRAN
A number of institutional investors have recently made changes to their positions in ADTN. Tieton Capital Management LLC acquired a new position in shares of ADTRAN in the second quarter worth approximately $7,931,000. William Blair Investment Management LLC acquired a new stake in ADTRAN during the 2nd quarter valued at approximately $15,276,000. Heartland Advisors Inc. acquired a new stake in shares of ADTRAN during the first quarter worth $9,435,000. Arrowstreet Capital Limited Partnership raised its stake in ADTRAN by 60.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider's stock worth $5,732,000 after buying an additional 171,145 shares during the last quarter. Finally, Sei Investments Co. raised its stake in ADTRAN by 162.0% during the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock worth $13,902,000 after buying an additional 683,262 shares during the last quarter. Institutional investors own 80.56% of the company's stock.
About ADTRAN
(
Get Free Report)
ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.
The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.
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