ADTRAN (NASDAQ:ADTN) Reaches New 52-Week High – Still a Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $12.44 and last traded at $10.78, with a volume of 605931 shares traded. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Northland Securities upped their price target on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a research note on Thursday, January 16th. Craig Hallum started coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Rosenblatt Securities boosted their price target on shares of ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.75.

ADTRAN Stock Performance

The stock has a market cap of $854.13 million, a P/E ratio of -1.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $10.08 and its two-hundred day simple moving average is $7.78.

Institutional Investors Weigh In On ADTRAN

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 4,177 shares in the last quarter. Aquatic Capital Management LLC raised its position in ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 6,290 shares during the last quarter. SIH Partners LLLP bought a new stake in ADTRAN in the 4th quarter valued at approximately $107,000. Hsbc Holdings PLC boosted its position in ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock worth $124,000 after acquiring an additional 7,636 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Company Profile

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.