ADTRAN Holdings, Inc. (NASDAQ:ADTN) Position Boosted by Kovack Advisors Inc.

Kovack Advisors Inc. increased its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 157.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 432,750 shares of the communications equipment provider’s stock after purchasing an additional 264,950 shares during the quarter. Kovack Advisors Inc.’s holdings in ADTRAN were worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADTN. Nisa Investment Advisors LLC boosted its stake in ADTRAN by 20,809.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 6,867 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ADTRAN by 91.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock valued at $106,000 after purchasing an additional 6,179 shares in the last quarter. Handelsbanken Fonder AB bought a new position in ADTRAN during the 3rd quarter valued at $114,000. Raymond James Financial Services Advisors Inc. bought a new position in ADTRAN during the 3rd quarter valued at $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ADTRAN by 19.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider’s stock valued at $125,000 after acquiring an additional 2,500 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADTN has been the subject of a number of recent research reports. Rosenblatt Securities cut their price objective on ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research report on Wednesday, April 17th. Finally, StockNews.com upgraded ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

ADTRAN Price Performance

Shares of NASDAQ:ADTN traded down $0.14 on Friday, reaching $4.43. 532,348 shares of the company traded hands, compared to its average volume of 732,911. The company’s 50 day moving average is $5.48 and its 200-day moving average is $6.22. The stock has a market capitalization of $350.50 million, a PE ratio of -1.38 and a beta of 1.13. ADTRAN Holdings, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $11.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.64 and a quick ratio of 1.34.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). The business had revenue of $225.48 million during the quarter, compared to analysts’ expectations of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. As a group, analysts anticipate that ADTRAN Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

ADTRAN 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.