ADTRAN (NASDAQ:ADTN) Now Covered by Analysts at Craig Hallum

Research analysts at Craig Hallum initiated coverage on shares of ADTRAN (NASDAQ:ADTN) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $15.00 price target on the communications equipment provider’s stock. Craig Hallum’s target price would suggest a potential upside of 55.60% from the stock’s previous close.

ADTN has been the subject of several other research reports. Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Northland Securities boosted their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC raised their price objective on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $11.50.

ADTRAN Stock Down 0.3 %

NASDAQ ADTN opened at $9.64 on Wednesday. The company has a market cap of $764.51 million, a price-to-earnings ratio of -1.48 and a beta of 1.28. ADTRAN has a 1-year low of $4.34 and a 1-year high of $9.88. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $8.14 and a 200-day moving average of $6.53.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of ADTRAN during the third quarter valued at about $65,000. Point72 DIFC Ltd bought a new stake in shares of ADTRAN during the second quarter worth about $69,000. Intech Investment Management LLC acquired a new position in shares of ADTRAN in the third quarter valued at approximately $92,000. Finally, Harbor Capital Advisors Inc. raised its holdings in ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 9,202 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.