Kovack Advisors Inc. Increases Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Kovack Advisors Inc. increased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 29.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 561,350 shares of the communications equipment provider’s stock after acquiring an additional 128,600 shares during the period. Kovack Advisors Inc.’s holdings in ADTRAN were worth $3,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADTN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ADTRAN in the fourth quarter worth $306,000. Federated Hermes Inc. purchased a new stake in ADTRAN in the fourth quarter valued at approximately $8,363,000. Campbell & CO Investment Adviser LLC bought a new stake in ADTRAN during the fourth quarter valued at approximately $507,000. Victory Capital Management Inc. grew its stake in ADTRAN by 28.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,326 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of ADTRAN in the 4th quarter worth $219,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADTN. Northland Securities upgraded ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 8th. Northland Capmk upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of ADTRAN in a research note on Monday, May 20th. Finally, StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.67.

ADTRAN Stock Down 0.2 %

NASDAQ:ADTN traded down $0.01 during midday trading on Thursday, reaching $5.12. 443,793 shares of the stock traded hands, compared to its average volume of 2,188,380. The company has a fifty day moving average of $5.16 and a 200 day moving average of $5.83. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $10.96.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The business had revenue of $226.17 million for the quarter, compared to analysts’ expectations of $223.00 million. As a group, equities research analysts forecast that ADTRAN Holdings, Inc. will post -0.23 earnings per share for the current year.

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.