Zacks Investment Research upgraded shares of ADVA Optical Networking (OTCMKTS:ADVOF) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $8.50 price target on the stock.

According to Zacks, “ADVA Optical Networking SE develops, manufactures and sells optical and Ethernetbased networking solutions. It serves telecommunications service providers, private companies, universities and government agencies. ADVA Optical Networking SE is headquartered in Munich, Germany. “

Shares of ADVA Optical Networking stock opened at $7.70 on Tuesday. The firm has a market capitalization of $392.91 million, a P/E ratio of 96.25 and a beta of 2.73. ADVA Optical Networking has a fifty-two week low of $5.60 and a fifty-two week high of $8.62.

ADVA Optical Networking (OTCMKTS:ADVOF) last issued its earnings results on Thursday, July 19th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $147.65 million during the quarter, compared to the consensus estimate of $157.30 million. ADVA Optical Networking had a negative net margin of 2.67% and a positive return on equity of 0.44%. On average, analysts expect that ADVA Optical Networking will post 0.42 earnings per share for the current fiscal year.

About ADVA Optical Networking

ADVA Optical Networking SE develops, manufactures, and sells optical and Ethernet-based networking solutions to deliver data, storage, voice, and video services worldwide. It offers scalable optical transport solutions, such as FSP 3000 AgileConnect, FSP 3000 CloudConnect, and FSP 3000 AccessConnect; packet edge and aggregation products, including carrier Ethernet and programmable demarcation, edge aggregation, and edge computing products; and network virtualization products comprising ensemble connectors, controllers, and orchestrators.

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