Aigen Investment Management LP Takes $276,000 Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• Aigen Investment Management LP acquired 31,603 shares of ADTRAN Holdings, Inc. for approximately $276,000 during the first quarter.
• Other large hedge funds significantly increased their positions in ADTRAN, with JPMorgan Chase & Co. boosting its stake by 591.5% in the fourth quarter.
• ADTRAN reported a loss of $0.26 EPS in its recent earnings report, missing the consensus estimate, although its revenue grew by 17.3% year-over-year.

Aigen Investment Management LP bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 31,603 shares of the communications equipment provider's stock, valued at approximately $276,000.

Several other hedge funds have also recently made changes to their positions in ADTN. Aquatic Capital Management LLC increased its stake in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of ADTRAN in the 1st quarter worth approximately $65,000. Ballentine Partners LLC bought a new position in shares of ADTRAN during the 1st quarter valued at approximately $94,000. SIH Partners LLLP purchased a new stake in ADTRAN during the 4th quarter valued at $107,000. Finally, CWM LLC lifted its position in ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock worth $116,000 after buying an additional 8,214 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Up 0.1%

ADTRAN stock traded up $0.01 during trading hours on Monday, hitting $8.85. The company had a trading volume of 211,405 shares, compared to its average volume of 1,113,575. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The firm has a market cap of $707.42 million, a P/E ratio of -6.75 and a beta of 1.30. The company has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $8.90. ADTRAN Holdings, Inc. has a 1 year low of $4.93 and a 1 year high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $265.07 million during the quarter, compared to the consensus estimate of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the company earned ($0.24) EPS. On average, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADTN shares. Wolfe Research began coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Wall Street Zen cut shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 10th. Needham & Company LLC decreased their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 9th. 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 research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, ADTRAN has an average rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Company 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.