StockNews.com Downgrades ADTRAN (NASDAQ:ADTN) to Sell

StockNews.com cut shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC restated a buy rating and set a $8.00 target price on shares of ADTRAN in a research note on Monday, May 20th. Northland Securities upgraded shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 target price for the company in a report on Wednesday, May 8th. Finally, Northland Capmk upgraded shares of ADTRAN from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ADTRAN currently has a consensus rating of Moderate Buy and a consensus price target of $7.67.

ADTRAN Stock Up 5.1 %

Shares of NASDAQ:ADTN opened at $5.78 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 0.73. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $10.96. The stock has a market cap of $457.30 million, a price-to-earnings ratio of -0.84 and a beta of 1.21. The firm’s 50 day moving average price is $5.27 and its 200 day moving average price is $5.75.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The business had revenue of $226.17 million during the quarter, compared to analysts’ expectations of $223.00 million. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. As a group, equities research analysts predict that ADTRAN will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. DNB Asset Management AS grew its holdings in shares of ADTRAN by 33.4% during the second quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock worth $24,364,000 after buying an additional 1,159,809 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of ADTRAN in the fourth quarter valued at approximately $8,363,000. William Blair Investment Management LLC raised its stake in shares of ADTRAN by 22.5% during the first quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock worth $24,241,000 after purchasing an additional 817,762 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of ADTRAN by 157.9% during the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock worth $3,176,000 after purchasing an additional 264,950 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in ADTRAN by 25.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock valued at $6,446,000 after buying an additional 237,739 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.