ADTRAN (NASDAQ:ADTN) Shares Pass Above 200-Day Moving Average – Time to Sell?

ADTRAN Holdings, Inc. (NASDAQ:ADTN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.72 and traded as high as $10.97. ADTRAN shares last traded at $10.64, with a volume of 1,084,765 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Northland Securities lifted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Craig Hallum initiated coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective for the company. Rosenblatt Securities increased their target price on shares of ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of ADTRAN in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.75.

ADTRAN Price Performance

The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock has a market cap of $843.82 million, a PE ratio of -1.63 and a beta of 1.29. The firm’s fifty day moving average price is $9.98 and its 200 day moving average price is $7.72.

Institutional Trading of ADTRAN

Several hedge funds have recently modified their holdings of ADTN. Quantinno Capital Management LP raised its holdings in ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock valued at $176,000 after buying an additional 877 shares during the period. Catalyst Funds Management Pty Ltd boosted its position in ADTRAN by 6.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock valued at $190,000 after acquiring an additional 1,300 shares in the last quarter. Hsbc Holdings PLC grew its stake in ADTRAN by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock valued at $122,000 after purchasing an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ADTRAN by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock valued at $373,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in ADTRAN by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock worth $2,320,000 after buying an additional 1,670 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.