ADTRAN (NASDAQ:ADTN) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum initiated coverage on shares of ADTRAN (NASDAQ:ADTN - Get Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set a "buy" rating and a $15.00 price target on the communications equipment provider's stock. Craig Hallum's target price would suggest a potential upside of 42.99% from the stock's previous close.

Other research analysts have also recently issued reports about the company. StockNews.com raised ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Needham & Company LLC raised their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Rosenblatt Securities raised shares of ADTRAN from a "neutral" rating to a "buy" rating and upped their target price for the company from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, Northland Securities raised their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $11.50.

ADTRAN Stock Performance

Shares of ADTN traded up $0.85 during trading hours on Wednesday, reaching $10.49. 1,892,066 shares of the company traded hands, compared to its average volume of 1,214,272. ADTRAN has a 1-year low of $4.34 and a 1-year high of $10.71. The stock has a market cap of $831.92 million, a P/E ratio of -1.61 and a beta of 1.28. The stock's fifty day moving average is $8.14 and its 200 day moving average is $6.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Institutional Trading of ADTRAN

A number of institutional investors have recently bought and sold shares of ADTN. JPMorgan Chase & Co. raised its position in shares of ADTRAN by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock valued at $741,000 after acquiring an additional 13,478 shares during the period. Barclays PLC increased its stake in ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock valued at $686,000 after purchasing an additional 11,880 shares in the last quarter. Geode Capital Management LLC raised its holdings in ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider's stock worth $10,736,000 after purchasing an additional 63,960 shares during the period. State Street Corp boosted its position in shares of ADTRAN by 2.8% during the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock worth $10,484,000 after purchasing an additional 48,542 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of ADTRAN in the 3rd quarter valued at $120,000. Institutional investors and hedge funds own 80.56% of the company's stock.

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.