ADTRAN (NASDAQ:ADTN) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.03 and traded as high as $10.31. ADTRAN shares last traded at $10.13, with a volume of 1,001,754 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADTN shares. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Rosenblatt Securities restated a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.00.

ADTRAN Price Performance

The company has a market capitalization of $811.62 million, a PE ratio of -9.47 and a beta of 1.39. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average price is $9.15 and its 200-day moving average price is $9.03.

Insider Activity

In other ADTRAN news, Director Nikos Theodosopoulos acquired 12,859 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was bought at an average cost of $7.81 per share, for a total transaction of $100,428.79. Following the completion of the purchase, the director directly owned 52,154 shares in the company, valued at $407,322.74. This represents a 32.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas R. Stanton bought 40,928 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the purchase, the chief executive officer owned 982,096 shares in the company, valued at approximately $7,198,763.68. This trade represents a 4.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 59,937 shares of company stock valued at $449,754 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN in the second quarter worth about $27,000. State of Alaska Department of Revenue purchased a new position in ADTRAN in the 3rd quarter worth approximately $36,000. Quarry LP acquired a new stake in ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of ADTRAN during the fourth quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,500 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.