ADTRAN (NASDAQ:ADTN) Shares Up 8.4% – Should You Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shot up 8.4% during trading on Wednesday . The company traded as high as $17.75 and last traded at $17.88. 951,509 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,861,417 shares. The stock had previously closed at $16.49.

Analyst Ratings Changes

A number of research firms have recently commented on ADTN. Northland Securities set a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. Wall Street Zen cut shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Finally, Rosenblatt Securities increased their target price on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.00.

ADTRAN Trading Up 17.6%

The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The company’s fifty day simple moving average is $14.58 and its 200-day simple moving average is $10.99. The company has a market capitalization of $1.57 billion, a P/E ratio of -49.81 and a beta of 1.45.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts predict that ADTRAN Holdings, Inc. will post 0.39 earnings per share for the current year.

Institutional Trading of ADTRAN

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of ADTRAN in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC bought a new stake in shares of ADTRAN in the 4th quarter valued at about $36,000. ST Germain D J Co. Inc. boosted its holdings in shares of ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of ADTRAN in the 4th quarter valued at about $47,000. Finally, Freestone Grove Partners LP bought a new stake in shares of ADTRAN in the 4th quarter valued at about $87,000. 80.56% of the stock is currently owned by institutional investors.

About ADTRAN

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.