ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $13.50 Average PT from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has been assigned a consensus rating 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 issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.50.

ADTN has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. 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. Finally, Craig Hallum assumed coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a "buy" rating and a $15.00 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in shares of ADTRAN during the first quarter valued at approximately $65,000. SG Americas Securities LLC boosted its position in shares of ADTRAN by 560.1% in the 1st quarter. SG Americas Securities LLC now owns 233,837 shares of the communications equipment provider's stock worth $2,039,000 after purchasing an additional 198,413 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of ADTRAN by 762.1% in the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock worth $239,000 after acquiring an additional 24,182 shares during the last quarter. Squarepoint Ops LLC increased its position in ADTRAN by 11.5% during the fourth quarter. Squarepoint Ops LLC now owns 387,944 shares of the communications equipment provider's stock valued at $3,232,000 after acquiring an additional 39,978 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in ADTRAN by 5.6% in the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider's stock worth $808,000 after purchasing an additional 5,168 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of NASDAQ ADTN traded up $0.21 during midday trading on Friday, reaching $7.39. The company's stock had a trading volume of 500,830 shares, compared to its average volume of 924,546. The stock has a market capitalization of $590.52 million, a P/E ratio of -1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The firm has a 50 day moving average price of $9.18 and a 200-day moving average price of $8.68. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44.

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.