KLP Kapitalforvaltning AS Purchases New Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

by · The Markets Daily

KLP Kapitalforvaltning AS acquired a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,600 shares of the communications equipment provider’s stock, valued at approximately $127,000.

Several other institutional investors have also recently added to or reduced their stakes in ADTN. Aquatic Capital Management LLC lifted its position in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in ADTRAN during the first quarter worth about $65,000. Ballentine Partners LLC bought a new position in ADTRAN in the first quarter worth about $94,000. SIH Partners LLLP acquired a new position in ADTRAN in the fourth quarter valued at approximately $107,000. Finally, CWM LLC boosted its stake in ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider’s stock valued at $116,000 after acquiring an additional 8,214 shares during the period. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADTN. Wall Street Zen raised ADTRAN from a “hold” rating to a “buy” rating in a report on Sunday, July 20th. Rosenblatt Securities dropped their target price on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Wolfe Research started coverage on shares of ADTRAN in a report on Monday, July 7th. They set a “peer perform” rating for the company. Finally, Needham & Company LLC dropped their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Read Our Latest Analysis on ADTRAN

ADTRAN Stock Up 1.1%

ADTN opened at $9.29 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. ADTRAN Holdings, Inc. has a 12 month low of $4.62 and a 12 month high of $12.44. The stock’s 50 day moving average price is $8.72 and its 200 day moving average price is $9.01. The stock has a market cap of $743.01 million, a P/E ratio of -5.46 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. ADTRAN’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. As a group, research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

ADTRAN Company Profile

(Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.

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