ADTRAN (NASDAQ:ADTN) Coverage Initiated at Craig Hallum

Craig Hallum initiated coverage on shares of ADTRAN (NASDAQ:ADTN) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating and a $15.00 price target on the communications equipment provider’s stock.

Several other equities analysts also recently commented on the stock. Needham & Company LLC upped their price target on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Northland Securities boosted their price objective 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. Finally, Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $10.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ADTRAN currently has a consensus rating of “Buy” and a consensus price target of $11.50.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN opened at $10.17 on Wednesday. The company has a market capitalization of $806.54 million, a price-to-earnings ratio of -1.56 and a beta of 1.28. ADTRAN has a 12 month low of $4.34 and a 12 month high of $10.71. The firm’s 50-day moving average is $8.31 and its 200 day moving average is $6.58. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On ADTRAN

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its position in shares of ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 4,177 shares during the period. Park Avenue Securities LLC purchased a new stake in ADTRAN during the third quarter valued at approximately $65,000. Point72 DIFC Ltd purchased a new stake in ADTRAN during the second quarter valued at approximately $69,000. Intech Investment Management LLC purchased a new stake in ADTRAN during the third quarter valued at approximately $92,000. Finally, Harbor Capital Advisors Inc. lifted its position in ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 9,202 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.