ADTRAN (NASDAQ:ADTN) Lowered to Sell at StockNews.com

StockNews.com cut shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other brokerages have also recently weighed in on ADTN. Rosenblatt Securities reissued a neutral rating and set a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th. Northland Capmk raised shares of 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 set a $8.00 price target on shares of ADTRAN in a research report on Thursday, August 8th. Finally, Northland Securities raised shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 target price on the stock in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ADTRAN presently has an average rating of Moderate Buy and a consensus target price of $7.17.

ADTRAN Trading Down 2.7 %

Shares of ADTN opened at $5.05 on Thursday. ADTRAN has a 52-week low of $4.34 and a 52-week high of $8.56. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average is $5.55 and its two-hundred day moving average is $5.39. The stock has a market cap of $399.54 million, a PE ratio of -0.73 and a beta of 1.19.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The firm had revenue of $225.99 million for the quarter, compared to analyst estimates of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. Research analysts forecast that ADTRAN will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. acquired a new position in shares of ADTRAN in the fourth quarter valued at approximately $27,000. Point72 DIFC Ltd acquired a new position in shares of ADTRAN in the second quarter worth $69,000. RPO LLC purchased a new stake in shares of ADTRAN during the fourth quarter worth $84,000. SG Americas Securities LLC acquired a new stake in shares of ADTRAN in the second quarter valued at $90,000. Finally, PEAK6 Investments LLC boosted its holdings in ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.