ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Average Rating of “Buy” from Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average recommendation of “Buy” from the four ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.33.

Several research firms have weighed in on ADTN. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday. They issued a “buy” rating and a $15.00 target price for the company. Northland Securities increased their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC increased their target price on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

ADTRAN Stock Up 6.8 %

Shares of NASDAQ:ADTN traded up $0.66 during mid-day trading on Wednesday, hitting $10.30. 385,931 shares of the company traded hands, compared to its average volume of 895,237. The stock has a 50-day moving average price of $8.14 and a two-hundred day moving average price of $6.53. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN has a 12-month low of $4.34 and a 12-month high of $10.38. The stock has a market cap of $816.85 million, a P/E ratio of -1.58 and a beta of 1.28.

Institutional Investors Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently modified their holdings of ADTN. American Century Companies Inc. increased its holdings in ADTRAN by 17.9% during the 2nd quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock worth $475,000 after purchasing an additional 13,688 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in ADTRAN by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 2,396 shares during the period. Dimensional Fund Advisors LP increased its holdings in ADTRAN by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after purchasing an additional 3,638 shares during the period. Renaissance Technologies LLC increased its holdings in ADTRAN by 26.4% during the 2nd quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after purchasing an additional 142,100 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in ADTRAN by 327.5% during the 2nd quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 40,653 shares during the period. 80.56% of the stock is currently owned by hedge funds and other 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.