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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus rating of “Buy” by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.50.

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

Institutional Trading of ADTRAN

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in ADTRAN during the first quarter worth about $65,000. SG Americas Securities LLC boosted its position in shares of ADTRAN by 560.1% during the 1st quarter. SG Americas Securities LLC now owns 233,837 shares of the communications equipment provider’s stock worth $2,039,000 after purchasing an additional 198,413 shares during the period. GAMMA Investing LLC increased its holdings in ADTRAN by 762.1% in the 1st quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 24,182 shares during the last quarter. Squarepoint Ops LLC raised its position in ADTRAN by 11.5% in the fourth quarter. Squarepoint Ops LLC now owns 387,944 shares of the communications equipment provider’s stock valued at $3,232,000 after purchasing an additional 39,978 shares during the period. Finally, Two Sigma Investments LP lifted its stake in ADTRAN by 5.6% during the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider’s stock worth $808,000 after purchasing an additional 5,168 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Down 0.3 %

Shares of ADTN opened at $7.43 on Friday. The stock has a 50 day moving average price of $9.33 and a 200 day moving average price of $8.62. ADTRAN has a one year low of $4.34 and a one year high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The stock has a market capitalization of $594.12 million, a price-to-earnings ratio of -1.14 and a beta of 1.46.

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.