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 Wednesday. The company traded as low as $6.69 and last traded at $6.6840, with a volume of 577,363 shares. The stock had previously closed at $6.96.

Analysts Set New Price Targets

Several analysts recently weighed in on ADTN shares. Rosenblatt Securities dropped their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Needham & Company LLC decreased their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Northland Securities set a $15.00 price target on ADTRAN in a research report on Wednesday, August 5th. Zacks Research raised ADTRAN from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.67.

ADTRAN Stock Performance

The stock has a 50-day moving average price of $7.42 and a 200 day moving average price of $11.73. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $532.07 million, a price-to-earnings ratio of -23.32, a P/E/G ratio of 4.07 and a beta of 1.48.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm had revenue of $281.15 million during the quarter, compared to analyst estimates of $290.19 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts forecast that ADTRAN Holdings, Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of ADTRAN during the second quarter worth $27,000. Persistent Asset Partners Ltd purchased a new stake in ADTRAN during the 2nd quarter worth about $28,000. State of Alaska Department of Revenue boosted its position in shares of ADTRAN by 44.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,589 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 1,717 shares in the last quarter. L2 Asset Management LLC acquired a new position in shares of ADTRAN during the 2nd quarter worth about $142,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of ADTRAN during the 1st quarter worth about $149,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

ADTRAN Holdings, Inc is a communications networking company that develops hardware, software and services for telecommunications providers, enterprises and private networks. Its solutions help customers deploy and manage broadband, fiber, Ethernet, fixed wireless and other access networks.

The company’s portfolio includes fiber access platforms, optical networking systems, broadband gateways, routers, switches, Wi-Fi equipment, network management software and cloud-based tools. ADTRAN also provides professional, support and managed services designed to help communications service providers build and operate scalable networks.

Founded in 1985 and headquartered in Huntsville, Alabama, ADTRAN serves customers across North America, Europe and other international markets.