ADTRAN (NASDAQ:ADTN) Stock Rating Upgraded by Wall Street Zen

ADTRAN (NASDAQ:ADTN) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Rosenblatt Securities dropped their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ADTRAN has an average rating of “Buy” and a consensus price target of $12.00.

ADTRAN Trading Down 0.6%

Shares of ADTN opened at $7.89 on Friday. The stock has a market cap of $631.04 million, a PE ratio of -4.64 and a beta of 1.30. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44. The stock has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $8.93. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. During the same quarter in the previous year, the business posted $0.02 earnings per share. ADTRAN’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC boosted its position in ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC bought a new position in ADTRAN in the 1st quarter valued at $65,000. Ballentine Partners LLC bought a new position in ADTRAN in the 1st quarter valued at $94,000. Financial Engines Advisors L.L.C. bought a new position in ADTRAN in the 1st quarter valued at $106,000. Finally, SIH Partners LLLP bought a new position in ADTRAN in the 4th quarter valued at $107,000. 80.56% of the stock is currently owned by 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.