1492 Capital Management LLC Invests $3.03 Million in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

1492 Capital Management LLC bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 364,056 shares of the communications equipment provider's stock, valued at approximately $3,033,000. ADTRAN accounts for about 1.4% of 1492 Capital Management LLC's portfolio, making the stock its 26th largest position. 1492 Capital Management LLC owned approximately 0.46% of ADTRAN as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its holdings in ADTRAN by 2.8% in 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 last quarter. Barclays PLC increased its position in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock worth $686,000 after purchasing an additional 11,880 shares in the last quarter. Geode Capital Management LLC raised its stake in ADTRAN by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider's stock valued at $10,736,000 after purchasing an additional 63,960 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in ADTRAN by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock worth $741,000 after purchasing an additional 13,478 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock worth $7,708,000 after buying an additional 263,156 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADTN has been the subject of several research reports. Needham & Company LLC upped their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Craig Hallum began coverage on ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Rosenblatt Securities dropped their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $12.50.

ADTRAN Trading Up 3.1 %

NASDAQ:ADTN traded up $0.23 on Wednesday, reaching $7.70. 337,661 shares of the company's stock were exchanged, compared to its average volume of 927,058. The business has a fifty day moving average of $9.10 and a 200-day moving average of $8.67. 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 52-week low of $4.34 and a 52-week high of $12.44. The firm has a market capitalization of $615.71 million, a price-to-earnings ratio of -1.18 and a beta of 1.46.

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.