Zacks Investment Research upgraded shares of Adva Optical Netwo (NASDAQ:ADVOF) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $9.75 price objective on the stock.

According to Zacks, “ADVA Optical Networking SE develops, manufactures and sells optical and Ethernetbased networking solutions. It serves telecommunications service providers, private companies, universities and government agencies. ADVA Optical Networking SE is headquartered in Munich, Germany. “

Shares of Adva Optical Netwo (NASDAQ ADVOF) traded up 1.33% during mid-day trading on Tuesday, reaching $7.60. 1,343 shares of the company’s stock were exchanged. The firm has a market cap of $377.39 million and a P/E ratio of 11.88. Adva Optical Netwo has a 52-week low of $7.39 and a 52-week high of $11.85. The company has a 50 day moving average price of $10.21 and a 200 day moving average price of $10.34.

Adva Optical Netwo (NASDAQ:ADVOF) last posted its earnings results on Thursday, July 20th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.10. The company had revenue of $158.48 million for the quarter, compared to analyst estimates of $164.13 million. Analysts forecast that Adva Optical Netwo will post $0.47 earnings per share for the current fiscal year.

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