ADTRAN (NASDAQ:ADTN) Sets New 1-Year Low – Should You Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $7.02 and last traded at $7.2040, with a volume of 57470 shares changing hands. The stock had previously closed at $7.20.

Wall Street Analyst Weigh In

ADTN has been the subject of several analyst reports. Rosenblatt Securities decreased their target price on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Needham & Company LLC cut their price target on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Northland Securities set a $15.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, ADTRAN currently has an average rating of “Hold” and a consensus price target of $14.67.

ADTRAN Price Performance

The company has a 50-day moving average of $9.14 and a 200-day moving average of $12.35. 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 firm has a market capitalization of $614.36 million, a price-to-earnings ratio of -26.93, a price-to-earnings-growth ratio of 4.40 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The company had revenue of $281.15 million for the quarter, compared to analyst estimates of $290.19 million. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of ADTRAN in the 2nd quarter valued at about $108,923,000. Millennium Management LLC boosted its position in shares of ADTRAN by 371.2% during the fourth quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock worth $23,418,000 after buying an additional 2,122,844 shares during the period. William Blair Investment Management LLC acquired a new position in shares of ADTRAN during the second quarter worth about $15,276,000. Alyeska Investment Group L.P. acquired a new position in shares of ADTRAN during the third quarter worth about $10,168,000. Finally, California State Teachers Retirement System grew its holdings in shares of ADTRAN by 1,502.5% during the second quarter. California State Teachers Retirement System now owns 1,154,200 shares of the communications equipment provider’s stock worth $16,043,000 after buying an additional 1,082,177 shares in the last quarter. 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.