ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Moderate Buy” from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.67.

ADTN has been the topic of several research reports. Northland Capmk raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research note on Monday, May 20th. Northland Securities raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 8th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Finally, Rosenblatt Securities dropped their price objective on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of ADTRAN during the fourth quarter worth $306,000. Federated Hermes Inc. bought a new position in shares of ADTRAN during the fourth quarter worth $8,363,000. Kovack Advisors Inc. boosted its position in shares of ADTRAN by 157.9% during the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock worth $3,176,000 after acquiring an additional 264,950 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of ADTRAN during the fourth quarter worth $507,000. Finally, Victory Capital Management Inc. boosted its position in shares of ADTRAN by 28.4% during the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after acquiring an additional 3,326 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Price Performance

ADTN stock opened at $4.82 on Thursday. The firm’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $5.88. ADTRAN has a 12-month low of $4.34 and a 12-month high of $10.96. The stock has a market capitalization of $381.36 million, a price-to-earnings ratio of -0.70 and a beta of 1.19. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $226.17 million for the quarter, compared to analyst estimates of $223.00 million. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. As a group, equities analysts predict that ADTRAN will post -0.23 earnings per share for the current year.

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.