ADTRAN (NASDAQ:ADTN) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

ADTRAN Stock Performance

The stock has a market cap of $752.33 million, a price-to-earnings ratio of -8.78 and a beta of 1.39. The company’s 50 day simple moving average is $8.91 and its 200 day simple moving average is $9.00. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.23 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). ADTRAN had a negative return on equity of 4.63% and a negative net margin of 8.44%.The company had revenue of $279.44 million during the quarter, compared to analyst estimates of $274.60 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nikos Theodosopoulos purchased 12,859 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average cost of $7.81 per share, with a total value of $100,428.79. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy P. Santo purchased 6,150 shares of the stock in a transaction dated Friday, November 28th. The shares were purchased 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 owned 26,594 shares in the company, valued at $213,283.88. This trade represents a 30.08% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 59,937 shares of company stock worth $449,754 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently bought and sold shares of ADTN. DNB Asset Management AS grew its stake in shares of ADTRAN by 7.6% in the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock worth $27,145,000 after purchasing an additional 219,810 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in ADTRAN during the fourth quarter valued at approximately $563,000. Versor Investments LP boosted its holdings in ADTRAN by 286.0% during the fourth quarter. Versor Investments LP now owns 60,600 shares of the communications equipment provider’s stock worth $527,000 after buying an additional 44,900 shares in the last quarter. First Eagle Investment Management LLC grew its position in ADTRAN by 2.2% in the fourth quarter. First Eagle Investment Management LLC now owns 1,235,207 shares of the communications equipment provider’s stock worth $10,734,000 after buying an additional 26,000 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.