ADTRAN (NASDAQ:ADTN) Research Coverage Started at B. Riley

B. Riley began coverage on shares of ADTRAN (NASDAQ:ADTN) in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $16.00 price objective on the communications equipment provider’s stock.

Several other equities research analysts have also commented on the company. Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Wolfe Research started coverage on ADTRAN in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Moderate Buy” and an average target price of $12.80.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $9.50 on Wednesday. The business’s 50 day simple moving average is $9.29 and its 200-day simple moving average is $8.66. The firm has a market capitalization of $759.81 million, a price-to-earnings ratio of -7.25 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. ADTRAN has a 12 month low of $5.59 and a 12 month high of $12.44.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $265.07 million for the quarter, compared to analysts’ expectations of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.ADTRAN’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.24) EPS. As a group, equities analysts forecast that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of ADTRAN

A number of institutional investors and hedge funds have recently made changes to their positions in ADTN. BNP Paribas Financial Markets acquired a new stake in shares of ADTRAN during the 4th quarter worth $399,000. Bank of America Corp DE increased its holdings in shares of ADTRAN by 20.2% during the 4th quarter. Bank of America Corp DE now owns 634,013 shares of the communications equipment provider’s stock worth $5,281,000 after buying an additional 106,601 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of ADTRAN by 59.8% during the 4th quarter. Deutsche Bank AG now owns 73,179 shares of the communications equipment provider’s stock worth $610,000 after buying an additional 27,377 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ADTRAN by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock worth $373,000 after buying an additional 1,605 shares during the last quarter. Finally, Man Group plc purchased a new stake in ADTRAN during the 4th quarter worth $548,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.