Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) PT at $13.50

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.50.

A number of research analysts have issued reports on ADTN shares. Needham & Company LLC upped their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of ADTRAN in a report on Friday, February 28th. Craig Hallum started coverage on shares of ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price for the company. Finally, Northland Securities upped their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th.

Hedge Funds Weigh In On ADTRAN

Institutional investors and hedge funds have recently modified their holdings of the stock. Aquatic Capital Management LLC lifted its position in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 6,290 shares during the last quarter. SIH Partners LLLP bought a new position in shares of ADTRAN during the fourth quarter worth approximately $107,000. Hsbc Holdings PLC lifted its holdings in ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after purchasing an additional 1,501 shares during the last quarter. Quantbot Technologies LP lifted its holdings in ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock worth $124,000 after purchasing an additional 7,636 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in ADTRAN in the 3rd quarter valued at $92,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Down 2.3 %

Shares of ADTN opened at $9.24 on Monday. The stock’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $8.36. The firm has a market capitalization of $737.91 million, a PE ratio of -1.42 and a beta of 1.29. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

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.