ADVA Optical Networking (OTCMKTS:ADVOF) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ADVA Optical Networking (OTCMKTS:ADVOF) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. The brokerage currently has $8.50 price objective 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. “

Separately, Commerzbank raised ADVA Optical Networking from a reduce rating to a hold rating in a research note on Monday, July 20th.

ADVOF opened at $8.17 on Wednesday. The stock has a market cap of $408.17 million, a PE ratio of 44.12 and a beta of 1.59. ADVA Optical Networking has a 52 week low of $4.90 and a 52 week high of $9.16. The business’s fifty day simple moving average is $6.78 and its 200 day simple moving average is $6.85.

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 multilayer edge, metro aggregation, and edge computing products; and network virtualization products comprising ensemble connectors, controllers, and orchestrators, as well as operates ensemble virtualization director, a management platform for the creation and deployment of virtualized services.

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