ADTRAN (NASDAQ:ADTN) Reaches New 1-Year Low – Here’s Why

by · The Markets Daily

ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Free Report)’s share price hit a new 52-week low on Thursday . The company traded as low as $6.92 and last traded at $6.9240, with a volume of 267212 shares. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ADTN shares. Weiss Ratings lowered ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Wall Street Zen downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. B. Riley Financial reiterated a “buy” rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Northland Securities set a $15.00 target price on ADTRAN in a report on Wednesday, August 5th. Finally, Evercore set a $11.00 price target on ADTRAN in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ADTRAN presently has a consensus rating of “Hold” and a consensus price target of $14.67.

View Our Latest Analysis on ADTRAN

ADTRAN Stock Performance

The firm has a market capitalization of $565.07 million, a price-to-earnings ratio of -24.77, a price-to-earnings-growth ratio of 4.46 and a beta of 1.47. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79. The stock’s fifty day moving average is $8.24 and its two-hundred day moving average is $12.19.

ADTRAN (NASDAQ:ADTN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $281.15 million during the quarter, compared to analyst estimates of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in ADTRAN in the second quarter valued at about $108,923,000. Royce & Associates LP increased its holdings in ADTRAN by 7.7% during the 4th quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock worth $22,568,000 after purchasing an additional 186,238 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ADTRAN by 50.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock valued at $16,817,000 after purchasing an additional 448,848 shares in the last quarter. SG Americas Securities LLC raised its position in shares of ADTRAN by 53.6% in the 1st quarter. SG Americas Securities LLC now owns 1,316,049 shares of the communications equipment provider’s stock valued at $16,556,000 after purchasing an additional 459,005 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of ADTRAN during the 2nd quarter valued at approximately $15,276,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Company Profile

(Get Free Report)

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a provider of networking and communications equipment, software and services for telecommunications companies, broadband providers, enterprises and government organizations. The company develops solutions that help service providers build and manage high-speed access networks, including fiber, fixed wireless and other broadband technologies.

Its portfolio includes access and aggregation platforms, optical networking systems, routers, switches, Wi-Fi equipment, cloud and network management software, and related professional and support services.

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