ADTRAN (NASDAQ:ADTN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

ADTRAN Holdings, Inc. (NASDAQ:ADTN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.03 and traded as high as $10.31. ADTRAN shares last traded at $10.13, with a volume of 1,001,754 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADTN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of ADTRAN in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.00.

ADTRAN Price Performance

The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The company has a market cap of $811.58 million, a price-to-earnings ratio of -9.47 and a beta of 1.39. The business has a 50-day moving average price of $9.15 and a 200 day moving average price of $9.03.

Insider Transactions at ADTRAN

In related news, Director Nikos Theodosopoulos purchased 12,859 shares of the stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $7.81 per share, for a total transaction of $100,428.79. Following the completion of the transaction, the director directly owned 52,154 shares of the company’s stock, valued at approximately $407,322.74. The trade was a 32.72% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas R. Stanton bought 40,928 shares of ADTRAN stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the completion of the acquisition, the chief executive officer directly owned 982,096 shares in the company, valued at $7,198,763.68. This represents a 4.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 59,937 shares of company stock worth $449,754. Insiders own 1.50% of the company’s stock.

Institutional Trading of ADTRAN

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new position in ADTRAN during the second quarter valued at approximately $27,000. State of Alaska Department of Revenue bought a new stake in ADTRAN during the 3rd quarter worth about $36,000. Quarry LP acquired a new position in ADTRAN during the third quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. grew its position in shares of ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

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.