Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Price Target at $10.33

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus rating of “Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

ADTN has been the topic of a number of analyst reports. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Craig Hallum initiated coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC lifted their price objective on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Northland Securities upped their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and lifted their price target for the company from $6.00 to $10.00 in a research report on Friday, November 8th.

ADTRAN Trading Down 3.1 %

Shares of ADTN opened at $10.17 on Wednesday. ADTRAN has a twelve month low of $4.34 and a twelve month high of $10.71. The stock has a market cap of $806.54 million, a PE ratio of -1.56 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $8.39 and its 200-day moving average price is $6.64.

Institutional Investors Weigh In On ADTRAN

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 4,177 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of ADTRAN in the 3rd quarter worth about $65,000. Point72 DIFC Ltd purchased a new position in ADTRAN during the 2nd quarter valued at about $69,000. Intech Investment Management LLC purchased a new position in ADTRAN during the 3rd quarter valued at about $92,000. Finally, Harbor Capital Advisors Inc. boosted its stake in ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock worth $112,000 after acquiring an additional 9,202 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.