ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of “Buy” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus recommendation of “Buy” from the five analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.50.

Several brokerages have issued reports on ADTN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of ADTRAN in a research report on Friday, February 28th. Craig Hallum began coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price objective for the company. Northland Securities increased their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC increased their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Institutional Trading of ADTRAN

A number of hedge funds have recently made changes to their positions in ADTN. Blue Trust Inc. grew its position in shares of ADTRAN by 798.7% during the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 4,177 shares in the last quarter. Aquatic Capital Management LLC grew its position in shares of ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 6,290 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the third quarter worth approximately $92,000. SIH Partners LLLP acquired a new stake in shares of ADTRAN during the fourth quarter worth approximately $107,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock worth $112,000 after buying an additional 9,202 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Down 0.4 %

NASDAQ ADTN opened at $10.59 on Thursday. ADTRAN has a one year low of $4.34 and a one year high of $12.44. The company’s 50 day moving average price is $10.26 and its 200 day moving average price is $7.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The firm has a market capitalization of $839.85 million, a price-to-earnings ratio of -1.63 and a beta of 1.29.

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.