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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has received a consensus recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $13.50.

A number of equities research analysts recently weighed in on ADTN shares. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC lifted their price target on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a report on Friday, February 28th. Finally, Northland Securities lifted their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th.

ADTRAN Trading Down 3.5 %

NASDAQ:ADTN opened at $8.90 on Monday. The firm has a 50-day simple moving average of $10.18 and a 200-day simple moving average of $8.44. ADTRAN has a one year low of $4.34 and a one year high of $12.44. The firm has a market cap of $710.75 million, a P/E ratio of -1.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Hedge Funds Weigh In On ADTRAN

Institutional investors have recently made changes to their positions in the company. Aquatic Capital Management LLC grew its position in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 6,290 shares during the period. Intech Investment Management LLC purchased a new stake in shares of ADTRAN during the 3rd quarter worth about $92,000. SIH Partners LLLP acquired a new stake in shares of ADTRAN during the 4th quarter valued at about $107,000. Point72 Asset Management L.P. purchased a new position in shares of ADTRAN in the 3rd quarter valued at about $114,000. Finally, Quantinno Capital Management LP purchased a new position in ADTRAN during the third quarter worth approximately $120,000. 80.56% of the stock is owned by hedge funds and other 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.