ADTRAN Target of Unusually High Options Trading (NASDAQ:ADTN)

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of unusually large options trading activity on Tuesday. Traders bought 8,149 call options on the stock. This is an increase of approximately 446% compared to the average volume of 1,493 call options.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Northland Securities set a $18.00 price target on ADTRAN in a research report on Wednesday, May 6th. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Rosenblatt Securities upped their price objective on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Evercore started coverage on ADTRAN in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Four 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On ADTRAN

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of ADTRAN in the third quarter worth about $36,000. Kestra Advisory Services LLC purchased a new stake in shares of ADTRAN during the 4th quarter valued at approximately $36,000. ST Germain D J Co. Inc. lifted its stake in shares of ADTRAN by 100.0% during the 4th 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. Caitong International Asset Management Co. Ltd bought a new position in ADTRAN in the 4th quarter worth approximately $47,000. Finally, Freestone Grove Partners LP purchased a new position in ADTRAN in the 4th quarter valued at approximately $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ ADTN traded down $0.96 on Tuesday, hitting $14.62. 635,522 shares of the stock traded hands, compared to its average volume of 2,030,628. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The business’s fifty day moving average is $15.95 and its two-hundred day moving average is $12.11. ADTRAN has a 12 month low of $7.11 and a 12 month high of $19.98. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -37.47 and a beta of 1.42.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The firm had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that ADTRAN will post 0.43 EPS for the current fiscal year.

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.