It’s that time of the year again! The coronavirus pandemic has sent stock markets and businesses across the world into a tizzy. The effects of the pandemic are still felt across the globe and most stocks are still trying to get back on their feet. Nonetheless, if you are a regular investor you shouldn’t be disappointed and utilize the time to research and analyze. The main stock in the discussion today is NASDAQ: ADTN at https://www.webull.com/quote/nasdaq-adtn.
An overview of Adtran:
Adtran is a company renowned for providing telecommunications and networking equipment. Adtran was founded in 1985 by Mark Smith and Lonnie McMillan. The company’s headquarters are located in Huntsville, Alabama and it boasts a workforce of more than 2000 employees. The CEO of the company is Tom Stanton. Besides, the company also houses research centers in the following cities:
• Huntsville, Alabama, USA.
• Portland, Oregon, USA.
• Berlin, Germany.
• Hyderabad, India.
• Munich, Germany.
• Warsaw, Poland.
Adtran is primarily responsible for supplying networking equipment such as internet routers for a variety of businesses ranging from small scale to large scale. Some of the equipment and networking solutions offered by Adtran include:
The total revenue generated by Adtran is a whopping 636.8 million. Key overall statistics are listed below:
• Overall revenue: US$636.8 million.
• Operating income: US$34.7 million
• Net income: US$35.2 million
• Total assets: US$667.2 million
• Total equity: US$479.5 million.
(All figures as per studies conducted in the year 2016)
Recently Nadsaqadtn was upgraded to buy meaning that this stock is an attractive pick for prospective and veteran investors alike. This upgrade is a consequence of upward earnings and earnings estimates. It currently sits at Zack’s rank of #2. Zack’s rating system consists of five ranks, ranging from #1 (strong buy) to #5 (Strong Sell).
Moreover, on August 12, Adtran enjoyed a highly productive day at the stock market with shares jumping to 1.07% nearing $12.24. 218,639 shares exchanged hands which is higher than the average number of trades done daily. Adtran opened the day at $12.26 and varied from $12.15 to $12.51. As a consequence of the good gain, Adtran’s market cap sits at $587.01 million. This isn’t a one-off. Adtran posted impressive gains for the second quarter of 2020 with total revenue of US $128.7 million for the given time. Adtran shares have also increased by 30% since the start of 2020. You can do stock trading from the the best day trading platform.
Statistics over the past year have shown that Adtran’s stock has seen a steady increase over the past year despite the pandemic. As such, it remains an enticing option for prospective investors in the market.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.