ADTRAN (NASDAQ:ADTN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.99 and traded as high as $9.04. ADTRAN shares last traded at $8.76, with a volume of 881,703 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of ADTRAN in a research note on Tuesday, November 25th. B. Riley assumed coverage on ADTRAN in a research report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ADTRAN presently has an average rating of “Hold” and a consensus price target of $13.00.

ADTRAN Price Performance

The stock has a 50 day moving average of $8.35 and a 200-day moving average of $8.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.23 and a current ratio of 1.96. The company has a market cap of $701.85 million, a PE ratio of -8.19 and a beta of 1.35.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). ADTRAN had a negative net margin of 8.44% and a negative return on equity of 4.63%. The firm had revenue of $279.44 million for the quarter, compared to analysts’ expectations of $274.60 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other ADTRAN news, CFO Timothy P. Santo acquired 6,150 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were acquired at an average cost of $8.02 per share, with a total value of $49,323.00. Following the acquisition, the chief financial officer directly owned 26,594 shares of the company’s stock, valued at approximately $213,283.88. The trade was a 30.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas R. Stanton acquired 40,928 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $7.33 per share, for a total transaction of $300,002.24. Following the purchase, the chief executive officer directly owned 982,096 shares of the company’s stock, valued at approximately $7,198,763.68. This trade represents a 4.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 59,937 shares of company stock worth $449,754. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ADTRAN

Several hedge funds have recently added to or reduced their stakes in ADTN. Alyeska Investment Group L.P. purchased a new position in shares of ADTRAN during the 3rd quarter valued at about $10,168,000. SG Capital Management LLC acquired a new stake in ADTRAN during the second quarter worth about $7,601,000. Assenagon Asset Management S.A. raised its position in ADTRAN by 691.6% during the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after acquiring an additional 814,864 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in ADTRAN by 5,809.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after acquiring an additional 773,509 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in ADTRAN by 434.2% in the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after acquiring an additional 729,194 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.