ADTRAN Holdings Inc (NASDAQ: ADTN) stock jumped 3.35% on Friday to $5.55 against a previous-day closing price of $5.37. With 0.82 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.85 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $5.61 whereas the lowest price it dropped to was $5.36. The 52-week range on ADTN shows that it touched its highest point at $21.68 and its lowest point at $4.91 during that stretch. It currently has a 1-year price target of $9.28. With its current market cap of 436.79 million, ADTN has annualized dividend of $0.18 while the current yield stands at 3.24%. Beta for the stock currently stands at 1.26.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ADTN was up-trending over the past week, with a rise of 2.21%, but this was down by -21.39% over a month. Three-month performance dropped to -31.14% while six-month performance fell -36.72%. The stock lost -72.81% in the past year, while it has lost -70.46% so far this year. A look at the trailing 12-month EPS for ADTN yields -1.29 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.11. This implies an EPS growth rate of -151.33% for this year and 129.22% for next year.
Float and Shares Shorts:
At present, 77.89 million ADTN shares are outstanding with a float of 70.81 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.75 million, which was 3.49% higher than short shares on Sep 28, 2023. In addition to Mr. Thomas R. Stanton as the firm’s President, CEO & Chairman, Dr. Christoph Glingener serves as its Chief Technology Officer.
Institutional Ownership:
Through their ownership of 90.11% of ADTN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.51% of ADTN, in contrast to 30.93% held by mutual funds. Shares owned by individuals account for 2.10%. As the largest shareholder in ADTN with 14.26% of the stake, BlackRock Fund Advisors holds 11,218,526 shares worth 11,218,526. A second-largest stockholder of ADTN, The Vanguard Group, Inc., holds 8,802,124 shares, controlling over 11.19% of the firm’s shares. DNB Asset Management AS is the third largest shareholder in ADTN, holding 3,105,474 shares or 3.95% stake. With a 6.07% stake in ADTN, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,779,013 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.77% of ADTN stock, is the second-largest Mutual Fund holder. It holds 2,181,394 shares valued at 14.33 million. DNB Teknologi holds 2.44% of the stake in ADTN, owning 1,921,730 shares worth 12.63 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ADTN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ADTN analysts setting a high price target of $16.81 and a low target of $5.39, the average target price over the next 12 months is $9.28. Based on these targets, ADTN could surge 202.88% to reach the target high and fall by -2.88% to reach the target low. Reaching the average price target will result in a growth of 67.21% from current levels.
Summary of Insider Activity:
Insiders traded ADTN stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 43 shares were bought while 156 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 366,122 while 181,091 shares were sold.
