Zacks Investment Research downgraded shares of Adva Optical Netwo (NASDAQ:ADVOF) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “ADVA Optical Networking SE develops, manufactures and sells optical and Ethernetbased networking solutions. It serves telecommunications service providers, private companies, universities and government agencies. ADVA Optical Networking SE is headquartered in Munich, Germany. “

Shares of Adva Optical Netwo (ADVOF) opened at 6.81 on Friday. The stock has a 50 day moving average of $8.34 and a 200 day moving average of $10.21. The firm has a market cap of $338.16 million and a PE ratio of 10.53. Adva Optical Netwo has a 1-year low of $6.81 and a 1-year high of $11.85.

Adva Optical Netwo (NASDAQ:ADVOF) last issued its earnings results on Thursday, July 20th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.10. The business had revenue of $158.48 million during the quarter, compared to analysts’ expectations of $164.13 million. Equities research analysts anticipate that Adva Optical Netwo will post $0.46 earnings per share for the current fiscal year.

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