Kovack Advisors Inc. Buys 21,100 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Kovack Advisors Inc. lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 799,950 shares of the communications equipment provider’s stock after purchasing an additional 21,100 shares during the period. Kovack Advisors Inc.’s holdings in ADTRAN were worth $6,664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 4,177 shares during the last quarter. Intech Investment Management LLC acquired a new position in ADTRAN in the 3rd quarter valued at $92,000. Harbor Capital Advisors Inc. grew its holdings in ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 9,202 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in ADTRAN in the 3rd quarter valued at $114,000. Finally, Quantinno Capital Management LP acquired a new position in ADTRAN in the 3rd quarter valued at $120,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

Shares of ADTN stock opened at $10.61 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $12.16. The company has a market cap of $841.44 million, a P/E ratio of -1.63 and a beta of 1.29. The business has a fifty day simple moving average of $10.08 and a 200 day simple moving average of $7.78.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of research reports. Northland Securities upped their price objective on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of ADTRAN in a research report on Thursday, January 16th. Rosenblatt Securities upped their target price on ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum assumed coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.75.

ADTRAN Company Profile

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.