Y Intercept Hong Kong Ltd Sells 54,328 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Y Intercept Hong Kong Ltd decreased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 45.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,602 shares of the communications equipment provider’s stock after selling 54,328 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ADTRAN were worth $389,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Divisar Capital Management LLC grew its stake in ADTRAN by 25.0% during the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock worth $30,195,000 after purchasing an additional 1,146,774 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in shares of ADTRAN by 173.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock worth $12,872,000 after buying an additional 1,551,000 shares in the last quarter. State Street Corp grew its position in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares during the period. Millennium Management LLC increased its stake in shares of ADTRAN by 8,824.3% in the 2nd quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock valued at $8,151,000 after acquiring an additional 1,532,257 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its position in shares of ADTRAN by 20.9% during the 3rd quarter. Kovack Advisors Inc. now owns 778,850 shares of the communications equipment provider’s stock valued at $4,619,000 after acquiring an additional 134,900 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 0.8 %

Shares of NASDAQ ADTN opened at $8.61 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The company has a 50-day moving average price of $7.37 and a 200-day moving average price of $6.15. The stock has a market capitalization of $682.82 million, a P/E ratio of -1.32 and a beta of 1.29. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $9.21.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC raised their price objective on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.50.

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.