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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus rating of “Buy” by the four brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $10.33.

Several equities analysts have recently issued reports on the company. Northland Securities boosted their price objective on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.00 to $10.00 in a report on Friday, November 8th. Craig Hallum started coverage on ADTRAN in a report on Wednesday. They set a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC upped their price target on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

ADTRAN Stock Performance

Shares of ADTN stock traded up $0.66 on Wednesday, hitting $10.30. The company had a trading volume of 385,931 shares, compared to its average volume of 895,237. The firm has a market cap of $816.85 million, a P/E ratio of -1.58 and a beta of 1.28. The company has a 50-day moving average price of $8.14 and a 200-day moving average price of $6.53. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN has a twelve month low of $4.34 and a twelve month high of $10.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADTN. American Century Companies Inc. raised its holdings in shares of ADTRAN by 17.9% in the 2nd quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock valued at $475,000 after buying an additional 13,688 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of ADTRAN by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after buying an additional 2,396 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ADTRAN by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock valued at $1,472,000 after buying an additional 3,638 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after purchasing an additional 142,100 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of ADTRAN by 327.5% in the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock valued at $282,000 after purchasing an additional 40,653 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

About ADTRAN

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.