ADTRAN Sees Unusually Large Options Volume (NASDAQ:ADTN)

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of some unusual options trading activity on Thursday. Investors acquired 6,229 call options on the stock. This represents an increase of 496% compared to the average volume of 1,046 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Wall Street Zen lowered shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Finally, Northland Securities set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Hedge Funds Weigh In On ADTRAN

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of ADTRAN by 78.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock valued at $7,629,000 after acquiring an additional 356,884 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of ADTRAN by 106.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider’s stock valued at $1,092,000 after acquiring an additional 60,070 shares during the period. Granahan Investment Management LLC grew its position in shares of ADTRAN by 190.8% in the 3rd quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider’s stock valued at $5,464,000 after acquiring an additional 382,170 shares during the period. Tudor Investment Corp ET AL grew its position in shares of ADTRAN by 434.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after acquiring an additional 729,194 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of ADTRAN by 520.7% in the 3rd quarter. Quantbot Technologies LP now owns 126,490 shares of the communications equipment provider’s stock valued at $1,186,000 after acquiring an additional 106,110 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Down 13.3%

ADTN stock traded down $2.59 during trading hours on Thursday, reaching $16.81. 1,980,422 shares of the stock were exchanged, compared to its average volume of 1,920,536. The firm’s 50-day moving average is $14.76 and its 200-day moving average is $11.07. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -42.98 and a beta of 1.45. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. ADTRAN has a 12 month low of $7.11 and a 12 month high of $19.98.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $286.09 million during the quarter, compared to analysts’ expectations of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, equities research analysts expect that ADTRAN will post 0.39 earnings per share for the current year.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.