ADTRAN Sees Unusually Large Options Volume (NASDAQ:ADTN)

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of unusually large options trading on Thursday. Stock traders acquired 6,229 call options on the stock. This is an increase of 496% compared to the typical volume of 1,046 call options.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN traded down $2.59 during midday trading on Thursday, hitting $16.81. The company’s stock had a trading volume of 1,980,422 shares, compared to its average volume of 1,920,536. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -42.98 and a beta of 1.45. The stock’s 50 day simple moving average is $14.76 and its 200 day simple moving average is $11.07. ADTRAN has a fifty-two week low of $7.11 and a fifty-two week high of $19.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that ADTRAN will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on ADTN shares. Argus raised shares of ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Thursday, April 2nd. Finally, Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of ADTRAN

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in ADTRAN by 78.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock worth $7,629,000 after purchasing an additional 356,884 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in ADTRAN by 106.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider’s stock worth $1,092,000 after purchasing an additional 60,070 shares during the last quarter. Granahan Investment Management LLC raised its position in ADTRAN by 190.8% in the 3rd quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider’s stock worth $5,464,000 after purchasing an additional 382,170 shares during the last quarter. Tudor Investment Corp ET AL raised its position in ADTRAN by 434.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock worth $8,415,000 after purchasing an additional 729,194 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in ADTRAN by 520.7% in the 3rd quarter. Quantbot Technologies LP now owns 126,490 shares of the communications equipment provider’s stock worth $1,186,000 after purchasing an additional 106,110 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

About ADTRAN

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.