ADTRAN Sees Unusually Large Options Volume (NASDAQ:ADTN)

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

Wall Street Analyst Weigh In

ADTN has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Northland Securities set a $18.00 price target on ADTRAN in a research report on Wednesday, May 6th. Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Evercore initiated coverage on ADTRAN in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Argus raised ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Institutional Investors Weigh In On ADTRAN

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position in shares of ADTRAN by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock worth $693,000 after acquiring an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after buying an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP increased its position in ADTRAN by 3.2% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock valued at $616,000 after buying an additional 2,016 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ADTRAN by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after buying an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its position in ADTRAN by 100.0% in 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. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Down 12.8%

Shares of ADTN stock opened at $16.92 on Friday. The stock’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $11.13. The company has a market cap of $1.37 billion, a PE ratio of -43.38 and a beta of 1.45. 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 issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Equities analysts predict that ADTRAN will post 0.39 EPS for the current fiscal year.

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.