ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Rating of "Moderate Buy" by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.67.

A number of analysts recently weighed in on ADTN shares. Northland Capmk upgraded shares of ADTRAN from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of ADTRAN in a research note on Monday, May 20th. Rosenblatt Securities lowered their target price on ADTRAN from $8.00 to $7.50 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Northland Securities raised ADTRAN from a "market perform" rating to an "outperform" rating and set a $7.50 target price for the company in a research note on Wednesday, May 8th. Finally, StockNews.com raised ADTRAN from a "sell" rating to a "hold" rating in a research note on Monday, June 10th.

Institutional Investors Weigh In On ADTRAN

Hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ADTRAN during the fourth quarter worth $306,000. Federated Hermes Inc. acquired a new stake in shares of ADTRAN during the fourth quarter worth $8,363,000. Kovack Advisors Inc. increased its position in shares of ADTRAN by 157.9% in the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider's stock worth $3,176,000 after purchasing an additional 264,950 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of ADTRAN in the fourth quarter worth $507,000. Finally, Victory Capital Management Inc. increased its position in shares of ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider's stock worth $110,000 after purchasing an additional 3,326 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Trading Up 3.5 %

ADTRAN stock traded up $0.17 during trading hours on Thursday, reaching $4.99. 993,734 shares of the company's stock traded hands, compared to its average volume of 983,819. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.46. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $10.96. The firm has a market capitalization of $394.81 million, a price-to-earnings ratio of -0.73 and a beta of 1.19. The firm's 50 day moving average is $5.12 and its 200-day moving average is $5.88.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The company had revenue of $226.17 million for the quarter, compared to the consensus estimate of $223.00 million. On average, analysts predict that ADTRAN will post -0.23 earnings per share for the current year.

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.