ADTRAN (NASDAQ:ADTN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other brokerages have also recently commented on ADTN. Northland Capmk upgraded ADTRAN from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of ADTRAN in a report on Thursday, August 8th. Northland Securities raised shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 price target on the stock in a report on Wednesday, May 8th. Finally, Rosenblatt Securities reiterated a neutral rating and issued a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ADTRAN presently has an average rating of Moderate Buy and an average target price of $7.17.

ADTRAN Trading Down 2.9 %

Shares of ADTRAN stock opened at $5.35 on Friday. ADTRAN has a 1-year low of $4.34 and a 1-year high of $8.81. The company’s fifty day simple moving average is $5.50 and its 200-day simple moving average is $5.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33. The stock has a market capitalization of $423.28 million, a PE ratio of -0.78 and a beta of 1.21.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. bought a new stake in shares of ADTRAN during the fourth quarter valued at approximately $27,000. Point72 DIFC Ltd bought a new position in shares of ADTRAN during the 2nd quarter valued at about $69,000. RPO LLC purchased a new position in shares of ADTRAN during the fourth quarter valued at about $84,000. SG Americas Securities LLC bought a new stake in shares of ADTRAN in the second quarter worth about $90,000. Finally, PEAK6 Investments LLC lifted its position in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 3,911 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.