ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Recommendation of "Buy" by Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has received an average rating of "Buy" from the five analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.50.

ADTN has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 target price on shares of ADTRAN in a report on Friday. Northland Securities upped their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Finally, Craig Hallum assumed coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price target for the company.

Institutional Trading of ADTRAN

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 4,177 shares during the period. Aquatic Capital Management LLC lifted its stake in 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 valued at $56,000 after purchasing an additional 6,290 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the 3rd quarter valued at $92,000. SIH Partners LLLP bought a new position in shares of ADTRAN during the 4th quarter valued at $107,000. Finally, Harbor Capital Advisors Inc. lifted its position in ADTRAN by 94.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider's stock worth $112,000 after acquiring an additional 9,202 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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ADTRAN Price Performance

ADTN remained flat at $10.57 during midday trading on Thursday. 4,193,789 shares of the company's stock traded hands, compared to its average volume of 1,251,420. The stock has a market cap of $838.26 million, a P/E ratio of -1.62 and a beta of 1.29. The stock's 50 day simple moving average is $10.17 and its 200 day simple moving average is $7.86. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. 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 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.