ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Rating of “Hold” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned a consensus rating of “Hold” from the three analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.50.

A number of equities analysts have recently commented on ADTN shares. Rosenblatt Securities cut their price objective on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research note on Wednesday. StockNews.com raised ADTRAN to a “sell” rating in a report on Wednesday, March 6th. Finally, Northland Securities raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research note on Wednesday.

ADTRAN Trading Up 14.4 %

NASDAQ:ADTN opened at $5.39 on Wednesday. The firm’s 50 day moving average is $5.22 and its 200 day moving average is $6.04. ADTRAN has a 12 month low of $4.34 and a 12 month high of $11.02. The stock has a market capitalization of $426.44 million, a PE ratio of -1.68 and a beta of 1.13. The company has a current ratio of 2.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.33.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.01). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The firm had revenue of $225.48 million during the quarter, compared to analysts’ expectations of $232.45 million. Sell-side analysts expect that ADTRAN will post -0.25 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. Federated Hermes Inc. purchased a new position in shares of ADTRAN in the fourth quarter worth about $8,363,000. Kovack Advisors Inc. lifted its position in ADTRAN by 157.9% in the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock valued at $3,176,000 after purchasing an additional 264,950 shares during the last quarter. Keeley Teton Advisors LLC grew its holdings in shares of ADTRAN by 154.6% in the third quarter. Keeley Teton Advisors LLC now owns 404,935 shares of the communications equipment provider’s stock worth $3,333,000 after purchasing an additional 245,911 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of ADTRAN by 57.2% in the third quarter. William Blair Investment Management LLC now owns 2,405,839 shares of the communications equipment provider’s stock worth $19,800,000 after buying an additional 875,140 shares during the period. Finally, B. Riley Asset Management LLC boosted its position in ADTRAN by 17.3% during the 3rd quarter. B. Riley Asset Management LLC now owns 360,555 shares of the communications equipment provider’s stock valued at $2,967,000 after buying an additional 53,155 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.