ADTRAN (NASDAQ:ADTN) Sees Unusually-High Trading Volume – What’s Next?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw unusually-high trading volume on Tuesday . Approximately 2,802,813 shares were traded during mid-day trading, an increase of 113% from the previous session’s volume of 1,317,561 shares.The stock last traded at $8.7850 and had previously closed at $8.68.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADTN shares. Weiss Ratings restated a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $11.00 price target on shares of ADTRAN in a research note on Wednesday, November 5th. B. Riley initiated coverage on ADTRAN in a report on Thursday, September 18th. They set a “buy” rating and a $16.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.50.

ADTRAN Trading Up 1.6%

The company has a quick ratio of 1.23, a current ratio of 1.96 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average is $8.56 and its 200 day moving average is $8.94. The stock has a market cap of $706.26 million, a PE ratio of -8.22 and a beta of 1.39.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. The company had revenue of $358.27 million during the quarter. ADTRAN had a negative net margin of 8.44% and a negative return on equity of 4.63%. As a group, analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Insider Activity

In other ADTRAN news, CFO Timothy P. Santo bought 6,150 shares of the company’s stock in a transaction on Friday, November 28th. The stock was purchased at an average cost of $8.02 per share, for a total transaction of $49,323.00. Following the acquisition, the chief financial officer owned 26,594 shares of the company’s stock, valued at $213,283.88. The trade was a 30.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas R. Stanton bought 40,928 shares of the business’s stock in a transaction on Monday, November 24th. The shares were acquired at an average price of $7.33 per share, with a total value of $300,002.24. Following the transaction, the chief executive officer owned 982,096 shares of the company’s stock, valued at $7,198,763.68. The trade was a 4.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 59,937 shares of company stock worth $449,754 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ADTRAN

Hedge funds and other institutional investors have recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new position in shares of ADTRAN during the second quarter valued at approximately $27,000. State of Alaska Department of Revenue purchased a new position in shares of ADTRAN during the 3rd quarter worth $36,000. Quarry LP acquired a new stake in shares of ADTRAN during the third quarter worth $36,000. New York State Teachers Retirement System purchased a new stake in shares of ADTRAN in the second quarter valued at $65,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of ADTRAN in the second quarter valued at $91,000. 80.56% of the stock is currently 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.