ADTRAN (NASDAQ:ADTN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTN - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of ADTRAN in a research report on Thursday, August 8th. Rosenblatt Securities reiterated a neutral rating and issued a $6.00 price target on shares of ADTRAN in a research note on Wednesday, August 7th. Northland Capmk upgraded shares of ADTRAN from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. Finally, Northland Securities raised shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 target price on the stock in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $7.17.

ADTRAN Trading Up 5.7 %

Shares of ADTN traded up $0.30 during trading hours on Friday, reaching $5.59. The stock had a trading volume of 425,944 shares, compared to its average volume of 924,279. ADTRAN has a 52 week low of $4.34 and a 52 week high of $8.81. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 0.73. The company has a market cap of $442.26 million, a P/E ratio of -0.81 and a beta of 1.21. The firm has a 50-day moving average of $5.48 and a 200 day moving average of $5.46.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADTN. Cape Investment Advisory Inc. bought a new stake in ADTRAN in the fourth quarter worth $27,000. Point72 DIFC Ltd bought a new position in ADTRAN in the second quarter worth $69,000. RPO LLC bought a new stake in ADTRAN during the fourth quarter worth about $84,000. SG Americas Securities LLC bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $90,000. Finally, PEAK6 Investments LLC grew its stake in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider's stock worth $96,000 after acquiring an additional 3,911 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.