ADTRAN (NASDAQ:ADTN) Given New $10.00 Price Target at Northland Securities

ADTRAN (NASDAQ:ADTN) had its price objective lifted by Northland Securities from $9.00 to $10.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the communications equipment provider’s stock.

Several other research firms have also commented on ADTN. Needham & Company LLC upped their price target on shares of ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and raised their price target for the company from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ADTRAN currently has a consensus rating of “Buy” and an average target price of $10.33.

ADTRAN Trading Down 2.4 %

NASDAQ:ADTN opened at $8.19 on Thursday. ADTRAN has a 12-month low of $4.34 and a 12-month high of $9.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The business has a 50 day simple moving average of $7.56 and a 200 day simple moving average of $6.22. The firm has a market capitalization of $649.52 million, a P/E ratio of -1.26 and a beta of 1.29.

Hedge Funds Weigh In On ADTRAN

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 4,177 shares during the period. Park Avenue Securities LLC acquired a new stake in ADTRAN in the third quarter worth approximately $65,000. Point72 DIFC Ltd bought a new position in ADTRAN during the 2nd quarter valued at $69,000. SG Americas Securities LLC bought a new position in ADTRAN during the 2nd quarter valued at $90,000. Finally, Intech Investment Management LLC acquired a new position in shares of ADTRAN during the 3rd quarter valued at $92,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.