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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given an average rating of “Buy” by the five research firms that are covering the stock, 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 issued ratings on the stock in the last year is $13.50.

ADTN has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. Needham & Company LLC increased their price target on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Craig Hallum initiated coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Northland Securities raised their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC boosted its stake in shares of ADTRAN by 1,572.5% during the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 6,290 shares during the period. Intech Investment Management LLC purchased a new stake in shares of ADTRAN during the third quarter worth $92,000. SIH Partners LLLP acquired a new stake in ADTRAN during the fourth quarter valued at $107,000. Point72 Asset Management L.P. purchased a new position in ADTRAN in the third quarter valued at about $114,000. Finally, Quantinno Capital Management LP acquired a new position in ADTRAN in the 3rd quarter worth about $120,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of ADTN opened at $8.90 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The firm’s 50 day moving average is $10.18 and its 200-day moving average is $8.40. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. The stock has a market capitalization of $710.75 million, a P/E ratio of -1.37 and a beta of 1.29.

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.