Nikos Theodosopoulos Purchases 12,859 Shares of ADTRAN (NASDAQ:ADTN) Stock

ADTRAN Holdings, Inc. (NASDAQ:ADTN) Director Nikos Theodosopoulos bought 12,859 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $7.81 per share, with a total value of $100,428.79. Following the transaction, the director owned 52,154 shares of the company’s stock, valued at $407,322.74. The trade was a 32.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ADTRAN Trading Down 0.1%

Shares of NASDAQ ADTN traded down $0.01 during mid-day trading on Monday, hitting $7.92. The company’s stock had a trading volume of 587,658 shares, compared to its average volume of 1,316,264. ADTRAN Holdings, Inc. has a one year low of $6.93 and a one year high of $12.44. The stock has a market cap of $634.52 million, a price-to-earnings ratio of -6.05 and a beta of 1.41. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The company’s fifty day simple moving average is $8.81 and its 200-day simple moving average is $8.86.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share for the quarter. The business had revenue of $358.27 million for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. On average, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADTN. B. Riley initiated coverage on ADTRAN in a research note on Thursday, September 18th. They set a “buy” rating and a $16.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Weiss Ratings restated a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Moderate Buy” and a consensus price target of $12.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new stake in ADTRAN during the second quarter worth $27,000. State of Alaska Department of Revenue bought a new stake in shares of ADTRAN in the 3rd quarter valued at about $36,000. Quarry LP acquired a new stake in ADTRAN in the 3rd quarter valued at about $36,000. New York State Teachers Retirement System acquired a new stake in ADTRAN in the 2nd quarter valued at about $65,000. Finally, Park Avenue Securities LLC acquired a new position in ADTRAN during the second quarter worth approximately $91,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.