ADTRAN (NASDAQ:ADTN) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTN) to a sell rating in a report published on Friday morning.

Several other research firms also recently commented on ADTN. Needham & Company LLC cut their price objective on ADTRAN from $12.00 to $9.00 and set a buy rating for the company in a report on Tuesday, November 7th. Rosenblatt Securities downgraded ADTRAN from a buy rating to a neutral rating and cut their price target for the company from $11.00 to $7.00 in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $15.20.

ADTRAN Trading Up 1.3 %

NASDAQ ADTN opened at $5.62 on Friday. The company has a market cap of $442.29 million, a PE ratio of -4.29 and a beta of 1.36. The company has a current ratio of 2.73, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. ADTRAN has a 12 month low of $4.91 and a 12 month high of $21.15. The stock has a 50 day moving average of $7.17 and a 200-day moving average of $8.52.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADTN. Quadrant Capital Group LLC increased its position in shares of ADTRAN by 686.7% in the second quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 2,788 shares during the period. FMR LLC increased its position in shares of ADTRAN by 41.3% in the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares during the period. Tower Research Capital LLC TRC increased its position in shares of ADTRAN by 165.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 1,386 shares during the period. US Bancorp DE increased its position in shares of ADTRAN by 328.0% in the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 2,939 shares during the period. Finally, Macquarie Group Ltd. bought a new position in shares of ADTRAN in the third quarter worth $46,000. Institutional investors own 81.88% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.