ADTRAN (NASDAQ:ADTN) Lowered to Sell at StockNews.com

ADTRAN (NASDAQ:ADTN) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also commented on ADTN. Northland Securities raised ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 8th. Northland Capmk raised ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ADTRAN currently has an average rating of “Moderate Buy” and a consensus price target of $7.67.

ADTRAN Stock Performance

Shares of NASDAQ ADTN remained flat at $6.13 during midday trading on Thursday. The stock had a trading volume of 700,780 shares, compared to its average volume of 956,313. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ADTRAN has a 52-week low of $4.34 and a 52-week high of $10.31. The company’s 50 day moving average is $5.41 and its 200 day moving average is $5.68. The company has a market capitalization of $485.01 million, a P/E ratio of -0.89 and a beta of 1.21.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $226.17 million for the quarter, compared to the consensus estimate of $223.00 million. As a group, equities research analysts forecast that ADTRAN will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Dynamic Technology Lab Private Ltd purchased a new position in ADTRAN in the fourth quarter worth $306,000. Federated Hermes Inc. purchased a new position in shares of ADTRAN during the 4th quarter valued at about $8,363,000. Kovack Advisors Inc. raised its holdings in shares of ADTRAN by 157.9% during the 4th quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock valued at $3,176,000 after buying an additional 264,950 shares in the last quarter. William Blair Investment Management LLC lifted its position in ADTRAN by 22.5% in the 1st quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock worth $24,241,000 after buying an additional 817,762 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in ADTRAN in the fourth quarter worth approximately $507,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.