ADTRAN (NASDAQ:ADTN) Reaches New 12-Month Low – Time to Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $6.76 and last traded at $6.87, with a volume of 1161657 shares changing hands. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ADTN shares. Zacks Research lowered shares of ADTRAN from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. B. Riley Financial restated a “buy” rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Needham & Company LLC decreased their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Evercore set a $11.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Finally, Craig Hallum set a $12.00 target price on ADTRAN in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.67.

ADTRAN Stock Up 3.4%

The business has a 50-day moving average price of $7.72 and a 200-day moving average price of $12.07. The stock has a market cap of $576.06 million, a PE ratio of -25.25, a price-to-earnings-growth ratio of 4.18 and a beta of 1.48. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69.

ADTRAN (NASDAQ:ADTN) last issued its quarterly 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). The company had revenue of $281.15 million during the quarter, compared to analysts’ expectations of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.ADTRAN’s revenue was up 6.0% on a year-over-year basis. As a group, analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of ADTRAN

A number of institutional investors and hedge funds have recently modified their holdings of ADTN. Integrated Wealth Concepts LLC acquired a new stake in shares of ADTRAN in the second quarter valued at about $27,000. Persistent Asset Partners Ltd acquired a new position in ADTRAN during the second quarter worth about $28,000. Swiss National Bank boosted its position in ADTRAN by 2.1% during the first quarter. Swiss National Bank now owns 142,600 shares of the communications equipment provider’s stock worth $1,794,000 after acquiring an additional 2,900 shares during the last quarter. Entropy Technologies LP boosted its position in ADTRAN by 53.6% during the first quarter. Entropy Technologies LP now owns 15,793 shares of the communications equipment provider’s stock worth $199,000 after acquiring an additional 5,510 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in ADTRAN by 18.7% during the 1st quarter. Quantinno Capital Management LP now owns 52,455 shares of the communications equipment provider’s stock valued at $660,000 after acquiring an additional 8,281 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a provider of networking and communications equipment, software and services for telecommunications companies, broadband providers, enterprises and government organizations. The company develops solutions that help service providers build and manage high-speed access networks, including fiber, fixed wireless and other broadband technologies.

Its portfolio includes access and aggregation platforms, optical networking systems, routers, switches, Wi-Fi equipment, cloud and network management software, and related professional and support services.