ADTRAN (NASDAQ:ADTN) Stock Crosses Above 200-Day Moving Average – Here’s Why

ADTRAN Holdings, Inc. (NASDAQ:ADTN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.00 and traded as high as $9.57. ADTRAN shares last traded at $9.39, with a volume of 1,144,460 shares traded.

Analyst Upgrades and Downgrades

ADTN has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of ADTRAN in a report on Tuesday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and an average price target of $13.00.

ADTRAN Price Performance

The firm has a market capitalization of $789.98 million, a PE ratio of -9.21 and a beta of 1.39. 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 firm’s fifty day simple moving average is $8.95 and its 200-day simple moving average is $9.00.

Insider Activity at ADTRAN

In related news, CFO Timothy P. Santo acquired 6,150 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were bought at an average price of $8.02 per share, for a total transaction of $49,323.00. Following the completion of the transaction, the chief financial officer directly owned 26,594 shares in the company, valued at approximately $213,283.88. This trade represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nikos Theodosopoulos bought 12,859 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was bought at an average cost of $7.81 per share, with a total value of $100,428.79. Following the transaction, the director owned 52,154 shares in the company, valued at $407,322.74. This trade represents a 32.72% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 59,937 shares of company stock valued at $449,754 over the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC purchased a new position in ADTRAN in the 3rd quarter worth approximately $2,443,000. SG Capital Management LLC bought a new position in ADTRAN during the second quarter valued at $7,601,000. Los Angeles Capital Management LLC bought a new stake in shares of ADTRAN in the 2nd quarter worth about $418,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of ADTRAN during the 2nd quarter valued at about $2,579,000. Finally, Squarepoint Ops LLC raised its position in ADTRAN by 56.4% during the second quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider’s stock valued at $5,659,000 after purchasing an additional 227,448 shares during the period. 80.56% of the stock is currently owned by 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.