ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of “Buy” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received an average rating of “Buy” from the five brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $12.75.

Several research firms have recently issued reports on ADTN. Craig Hallum assumed coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price for the company. Rosenblatt Securities increased their price objective on shares of ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of ADTRAN in a research report on Thursday, January 16th. Finally, Northland Securities increased their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $10.61 on Thursday. The firm has a market capitalization of $841.44 million, a PE ratio of -1.63 and a beta of 1.29. The stock’s fifty day moving average is $10.08 and its 200 day moving average is $7.78. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $12.16. 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 Investors Weigh In On ADTRAN

Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its stake in shares of 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 in the last quarter. Two Sigma Investments LP increased its holdings in ADTRAN by 5.6% during the 4th 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 period. Shellback Capital LP bought a new stake in ADTRAN during the 4th quarter valued at $1,653,000. ProShare Advisors LLC lifted its holdings in shares of ADTRAN by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,180 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 7,299 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 877 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.