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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shares hit a new 52-week low during trading on Thursday . The company traded as low as $7.02 and last traded at $7.2040, with a volume of 57470 shares trading hands. The stock had previously closed at $7.20.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADTN. Zacks Research lowered ADTRAN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Craig Hallum set a $12.00 target price on ADTRAN in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Finally, B. Riley Financial restated a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.67.

ADTRAN Stock Performance

The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $601.00 million, a price-to-earnings ratio of -26.12, a price-to-earnings-growth ratio of 4.64 and a beta of 1.47. The company has a 50-day moving average of $9.36 and a 200-day moving average of $12.40.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of ADTRAN during the 2nd quarter valued at about $27,000. Persistent Asset Partners Ltd bought a new position in ADTRAN in the second quarter worth about $28,000. Quarry LP bought a new position in ADTRAN in the third quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in ADTRAN in the fourth quarter valued at approximately $36,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in ADTRAN in the fourth quarter valued at approximately $47,000. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.