ADTRAN Holdings Inc (NASDAQ:ADTN) price on Thursday, February 27, fall -0.38% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $10.57.
A look at the stock’s price movement, the close in the last trading session was $10.61. Turning to its 52-week performance, $12.16 and $4.34 were the 52-week high and 52-week low respectively. Overall, ADTN moved 9.76% over the past month.
ADTRAN Holdings Inc’s market cap currently stands at around $838.27 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 238.66M for the company’s revenue for the quarter, with a low and high estimate of 230.6M and 245M respectively. The average forecast suggests up to a 5.52% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.02B, representing a 10.46% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ADTN is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 9 recommend ADTN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ADTN’s current price about -3.93% and 5.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.63, while 7-day volatility ratio is 8.22% and 6.06% in the 30-day chart. Further, ADTRAN Holdings Inc (ADTN) has a beta value of 1.29, and an average true range (ATR) of 0.66. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $10 and high of $10. Looking at the price targets, the low is 5.39% off current price level while to achieve the yearly target high, price needs to move 5.39%. Nonetheless, investors will most likely welcome a 5.39% jump to $10 which is the analysts’ median price.
If we refocus on ADTRAN Holdings Inc (NASDAQ:ADTN), historical trading data shows that trading volumes averaged 918.30K over the past 3 months. The company’s latest data on shares outstanding shows there are 79.31 million shares.
The 7.19% of ADTRAN Holdings Inc’s shares are in the hands of company insiders while institutional holders own 81.15% of the company’s shares. Current price change has pushed the stock 26.89% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ADTN stock continues to rise going into the next quarter.
