ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC trimmed its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 68.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,759 shares of the communications equipment provider's stock after selling 74,419 shares during the quarter. Boothbay Fund Management LLC's holdings in ADTRAN were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADTN. Vanguard Group Inc. raised its position in ADTRAN by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,592,419 shares of the communications equipment provider's stock worth $54,915,000 after purchasing an additional 41,478 shares during the period. DnB Asset Management AS increased its position in ADTRAN by 3.8% during the 4th quarter. DnB Asset Management AS now owns 5,022,392 shares of the communications equipment provider's stock valued at $41,837,000 after buying an additional 184,627 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of ADTRAN by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider's stock valued at $38,711,000 after acquiring an additional 114,986 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of ADTRAN by 24.5% during the 4th quarter. First Eagle Investment Management LLC now owns 1,246,807 shares of the communications equipment provider's stock valued at $10,386,000 after buying an additional 245,000 shares during the last quarter. Finally, Tieton Capital Management LLC lifted its holdings in shares of ADTRAN by 23.9% in the 4th quarter. Tieton Capital Management LLC now owns 1,192,009 shares of the communications equipment provider's stock valued at $9,929,000 after buying an additional 229,605 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADTN shares. Rosenblatt Securities cut their target price on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC lifted their price target 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. Finally, Craig Hallum started coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price target on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $12.50.

ADTRAN Stock Down 4.7 %

Shares of ADTN stock traded down $0.37 on Thursday, reaching $7.58. 692,247 shares of the stock were exchanged, compared to its average volume of 931,738. The business's 50 day moving average price is $8.37 and its 200 day moving average price is $8.79. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $606.11 million, a price-to-earnings ratio of -1.16 and a beta of 1.33. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. During the same period in the prior year, the company posted $0.02 EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.5 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.