Boothbay Fund Management LLC Sells 74,419 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Boothbay Fund Management LLC lowered its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 68.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,759 shares of the communications equipment provider's stock after selling 74,419 shares during the period. Boothbay Fund Management LLC's holdings in ADTRAN were worth $281,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ADTN. Susquehanna Fundamental Investments LLC bought a new position in ADTRAN in the fourth quarter valued at about $997,000. Fuller & Thaler Asset Management Inc. raised its holdings in ADTRAN by 6,537,000.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 65,371 shares of the communications equipment provider's stock valued at $545,000 after buying an additional 65,370 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ADTRAN by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,986 shares of the communications equipment provider's stock worth $825,000 after acquiring an additional 6,121 shares during the last quarter. Susquehanna Advisors Group Inc. acquired a new position in ADTRAN in the 4th quarter valued at approximately $813,000. Finally, Hsbc Holdings PLC raised its stake in shares of ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after acquiring an additional 1,501 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADTN shares. Needham & Company LLC raised their target price on ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities cut their price objective on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Craig Hallum began coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $12.50.

ADTRAN Trading Up 0.3 %

ADTN traded up $0.02 during trading on Monday, hitting $7.90. The company's stock had a trading volume of 887,143 shares, compared to its average volume of 936,808. The firm has a market capitalization of $631.70 million, a P/E ratio of -1.21 and a beta of 1.46. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The stock's fifty day moving average price is $8.48 and its 200-day moving average price is $8.80. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

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.