ADTRAN (NASDAQ:ADTN) Reaches New 1-Year High – Here’s What Happened

ADTRAN Holdings, Inc. (NASDAQ:ADTN) reached a new 52-week high on Tuesday . The stock traded as high as $10.88 and last traded at $10.52, with a volume of 222980 shares. The stock had previously closed at $10.19.

Analyst Upgrades and Downgrades

ADTN has been the subject of several recent research reports. Rosenblatt Securities upped their price target on ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a report on Thursday, January 16th. Northland Securities upped their price target on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Craig Hallum started coverage on ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target for the company. One equities research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.75.

ADTRAN Stock Performance

The firm has a market capitalization of $831.17 million, a P/E ratio of -1.61 and a beta of 1.28. The stock has a 50-day moving average of $8.85 and a 200 day moving average of $6.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Institutional Investors Weigh In On ADTRAN

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 4,177 shares during the last quarter. Park Avenue Securities LLC bought a new position in ADTRAN in the 3rd quarter valued at $65,000. Point72 DIFC Ltd bought a new position in ADTRAN in the 2nd quarter valued at $69,000. Intech Investment Management LLC bought a new position in ADTRAN in the 3rd quarter valued at $92,000. Finally, Harbor Capital Advisors Inc. boosted its position 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.

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.