ADTRAN (NASDAQ:ADTN) Shares Down 4.4% – Time to Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shares fell 4.4% during trading on Friday . The company traded as low as $10.17 and last traded at $10.14. 97,012 shares traded hands during trading, a decline of 91% from the average session volume of 1,078,424 shares. The stock had previously closed at $10.61.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADTN. Wolfe Research began coverage on ADTRAN in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

ADTRAN Stock Performance

The company has a market cap of $808.60 million, a P/E ratio of -7.72 and a beta of 1.39. The firm has a 50 day moving average of $9.29 and a 200-day moving average of $8.69. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $265.07 million during the quarter, compared to the consensus estimate of $255.57 million. During the same period last year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cape Investment Advisory Inc. bought a new stake in ADTRAN during the 2nd quarter valued at $27,000. New York State Teachers Retirement System bought a new stake in ADTRAN during the 2nd quarter valued at $65,000. FNY Investment Advisers LLC bought a new stake in ADTRAN during the 1st quarter valued at $65,000. Park Avenue Securities LLC bought a new stake in ADTRAN during the 2nd quarter valued at $91,000. Finally, Ballentine Partners LLC bought a new stake in ADTRAN during the 1st quarter valued at $94,000. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.