ADTRAN (NASDAQ:ADTN) Stock Price Down 5.8% – What’s Next?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) fell 5.8% during mid-day trading on Tuesday . The company traded as low as $15.06 and last traded at $15.0950. 410,926 shares traded hands during trading, a decline of 80% from the average session volume of 2,007,001 shares. The stock had previously closed at $16.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADTN shares. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Rosenblatt Securities boosted their target price on shares of ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Northland Securities set a $18.00 price target on ADTRAN in a research note on Wednesday, May 6th. Evercore started coverage on ADTRAN in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Argus raised ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.00.

ADTRAN Stock Down 9.1%

The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The company has a 50 day simple moving average of $15.56 and a two-hundred day simple moving average of $11.59. The firm has a market capitalization of $1.18 billion, a P/E ratio of -37.39 and a beta of 1.42.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts predict that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Large investors have recently made changes to their positions in the company. Quarry LP bought a new position in ADTRAN during the third quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN in the 4th quarter worth approximately $36,000. ST Germain D J Co. Inc. raised its stake in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN in the 4th quarter valued at about $47,000. Finally, Freestone Grove Partners LP purchased a new stake in ADTRAN during the 4th quarter valued at $87,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.