Apis Capital Advisors LLC Acquires Shares of 435,000 ADTRAN Holdings, Inc. $ADTN

Key Points

• Apis Capital Advisors LLC has initiated a position in ADTRAN Holdings, purchasing 435,000 shares valued at approximately $3.79 million, making it the firm's 20th largest position.
• ADTRAN reported a quarterly loss of $0.26 EPS, which fell short of analyst expectations despite a revenue increase of 17.3% year-over-year.
• Recent analyst ratings suggest a consensus target price of $12.00 for ADTRAN, with a mix of "buy" and "hold" ratings from various research firms.

Apis Capital Advisors LLC purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 435,000 shares of the communications equipment provider's stock, valued at approximately $3,793,000. ADTRAN accounts for approximately 1.8% of Apis Capital Advisors LLC's portfolio, making the stock its 20th largest position. Apis Capital Advisors LLC owned 0.54% of ADTRAN at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADTN. GAMMA Investing LLC raised its stake in ADTRAN by 762.1% during the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 24,182 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of ADTRAN in the 1st quarter valued at approximately $1,880,000. Swiss National Bank acquired a new position in ADTRAN in the 1st quarter worth approximately $1,273,000. Invesco Ltd. grew its stake in shares of ADTRAN by 325.4% during the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider's stock worth $10,317,000 after purchasing an additional 905,056 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of ADTRAN during the 4th quarter worth approximately $399,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wolfe Research initiated coverage on ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Needham & Company LLC reduced their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Stock Down 1.2%

Shares of ADTRAN stock traded down $0.11 on Wednesday, reaching $9.28. 681,712 shares of the company were exchanged, compared to its average volume of 935,282. ADTRAN Holdings, Inc. has a 1-year low of $4.93 and a 1-year high of $12.44. The company has a market cap of $742.21 million, a P/E ratio of -7.08 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The stock's 50 day moving average price is $9.15 and its 200-day moving average price is $8.75.

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