ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Rating)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $15.46 and last traded at $15.52, with a volume of 40985 shares changing hands. The stock had previously closed at $15.88.
Analyst Ratings Changes
ADTN has been the topic of several research reports. Cowen dropped their target price on ADTRAN from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ADTRAN in a research report on Wednesday, February 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.67.
ADTRAN Trading Up 1.3 %
The company has a market cap of $1.22 billion, a P/E ratio of -257.67 and a beta of 1.40. The business’s 50 day simple moving average is $17.90 and its 200 day simple moving average is $19.33.
ADTRAN Dividend Announcement
Institutional Investors Weigh In On ADTRAN
Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in ADTRAN by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock valued at $337,000 after purchasing an additional 585 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ADTRAN by 1.5% in the first quarter. JPMorgan Chase & Co. now owns 277,080 shares of the communications equipment provider’s stock worth $5,112,000 after buying an additional 4,148 shares in the last quarter. Raymond James & Associates boosted its position in shares of ADTRAN by 5.3% during the first quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock worth $368,000 after acquiring an additional 995 shares during the last quarter. Citigroup Inc. grew its stake in ADTRAN by 7.5% during the first quarter. Citigroup Inc. now owns 51,167 shares of the communications equipment provider’s stock valued at $944,000 after acquiring an additional 3,579 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in ADTRAN by 51.8% in the 1st quarter. MetLife Investment Management LLC now owns 25,302 shares of the communications equipment provider’s stock valued at $467,000 after acquiring an additional 8,632 shares during the last quarter. 85.14% of the stock is owned by institutional investors.
ADTRAN Company Profile
ADTRAN Holdings, Inc develops and provides network access solutions. It is a global provider of open, disaggregated networking and communications equipment that enable voice, data, video and internet communications across any network infrastructure. The company was founded in 1985 and is headquartered in Huntsville, AL.
- Get a free copy of the StockNews.com research report on ADTRAN (ADTN)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.