Weiss Ratings Reiterates Sell (E+) Rating for ADTRAN (NASDAQ:ADTN)

Key Points

• Weiss Ratings has reiterated a sell (e+) rating for ADTRAN (NASDAQ:ADTN), indicating caution for potential investors.
• ADTRAN's stock has experienced fluctuations, with a current trading price of $10.08 and a twelve-month range between $6.02 and $12.44.
• The overall market sentiment is reflected in ADTRAN's consensus rating, which is a Moderate Buy with a target price of $12.80.

ADTRAN (NASDAQ:ADTN - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other research firms have also recently issued reports on ADTN. B. Riley began coverage on ADTRAN in a research note on Thursday, September 18th. They set a "buy" rating and a $16.00 target price for the company. Wolfe Research started coverage on ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Wall Street Zen cut ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $12.80.

ADTRAN Price Performance

Shares of NASDAQ:ADTN traded up $0.32 during midday trading on Friday, hitting $10.08. The company had a trading volume of 1,145,665 shares, compared to its average volume of 1,246,900. ADTRAN has a twelve month low of $6.02 and a twelve month high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The stock has a market cap of $805.78 million, a price-to-earnings ratio of -7.69 and a beta of 1.37. The business's 50-day simple moving average is $9.33 and its 200-day simple moving average is $8.71.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $358.27 million during the quarter. On average, research analysts predict that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Trading of ADTRAN

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $408,000 after purchasing an additional 1,946 shares during the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN in the 2nd quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of ADTRAN by 19.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider's stock valued at $175,000 after purchasing an additional 3,217 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of ADTRAN by 1.4% in the 2nd quarter. SG Americas Securities LLC now owns 237,207 shares of the communications equipment provider's stock valued at $2,128,000 after purchasing an additional 3,370 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of ADTRAN by 5.7% in the 2nd quarter. Creative Planning now owns 63,774 shares of the communications equipment provider's stock valued at $572,000 after purchasing an additional 3,424 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

About ADTRAN

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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