ADTRAN (NASDAQ:ADTN) Sets New 12-Month Low – Should You Sell?

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) reached a new 52-week low on Friday . The stock traded as low as $7.08 and last traded at $7.1110, with a volume of 759003 shares traded. The stock had previously closed at $7.15.

Analyst Ratings Changes

ADTN has been the topic of several research analyst reports. Northland Securities set a $15.00 target price on ADTRAN in a research report on Wednesday, August 5th. Evercore set a $11.00 price objective on shares of ADTRAN in a research report on Wednesday, August 5th. Craig Hallum set a $12.00 target price on ADTRAN in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.67.

ADTRAN Trading Down 0.8%

The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19. The firm’s fifty day moving average is $9.88 and its two-hundred day moving average is $12.48. The firm has a market capitalization of $578.10 million, a PE ratio of -25.37, a PEG ratio of 4.60 and a beta of 1.47.

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

Hedge Funds Weigh In On ADTRAN

Several institutional investors have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC purchased a new position in ADTRAN in the second quarter valued at about $7,931,000. William Blair Investment Management LLC purchased a new stake in shares of ADTRAN during the 2nd quarter worth approximately $15,276,000. Heartland Advisors Inc. purchased a new stake in shares of ADTRAN during the 1st quarter worth approximately $9,435,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of ADTRAN by 60.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock worth $5,732,000 after purchasing an additional 171,145 shares during the period. Finally, Sei Investments Co. lifted its stake in ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock valued at $13,902,000 after purchasing an additional 683,262 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.