AlphaQuest LLC Makes New $242,000 Investment in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

AlphaQuest LLC acquired a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,997 shares of the communications equipment provider’s stock, valued at approximately $242,000.

Several other large investors have also recently made changes to their positions in ADTN. Intech Investment Management LLC purchased a new position in ADTRAN during the 3rd quarter valued at approximately $92,000. Point72 Asset Management L.P. purchased a new position in shares of ADTRAN in the third quarter valued at $114,000. Quantinno Capital Management LP bought a new stake in ADTRAN in the third quarter worth $120,000. Inceptionr LLC purchased a new stake in ADTRAN during the fourth quarter valued at $162,000. Finally, SG Americas Securities LLC lifted its position in ADTRAN by 24.7% during the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock valued at $295,000 after purchasing an additional 7,011 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research report on Friday, February 28th. Northland Securities lifted their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC increased their price target on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ADTRAN has an average rating of “Buy” and a consensus target price of $13.50.

ADTRAN Trading Up 5.0 %

ADTN opened at $9.10 on Friday. ADTRAN Holdings, Inc. has a one year low of $4.34 and a one year high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The stock has a market cap of $726.73 million, a price-to-earnings ratio of -1.40 and a beta of 1.29. The stock’s 50 day moving average price is $10.36 and its 200-day moving average price is $8.15.

About ADTRAN

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.