BNP Paribas Financial Markets Takes $399,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

BNP Paribas Financial Markets bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,930 shares of the communications equipment provider's stock, valued at approximately $399,000. BNP Paribas Financial Markets owned 0.06% of ADTRAN at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADTN. Schonfeld Strategic Advisors LLC purchased a new stake in ADTRAN during the 4th quarter valued at about $12,921,000. JPMorgan Chase & Co. boosted its holdings in ADTRAN by 591.5% during the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider's stock valued at $7,196,000 after acquiring an additional 738,893 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in ADTRAN during the 4th quarter valued at about $6,095,000. Royce & Associates LP purchased a new stake in ADTRAN during the 4th quarter valued at about $4,061,000. Finally, 1492 Capital Management LLC purchased a new stake in ADTRAN during the 4th quarter valued at about $3,033,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADTN has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. 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 report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ADTRAN has an average rating of "Moderate Buy" and an average price target of $12.00.

ADTRAN Trading Up 1.5%

Shares of ADTN stock traded up $0.12 during trading hours on Wednesday, reaching $8.15. The company's stock had a trading volume of 788,596 shares, compared to its average volume of 935,068. The stock has a market capitalization of $651.82 million, a P/E ratio of -1.25 and a beta of 1.33. ADTRAN Holdings, Inc. has a one year low of $4.62 and a one year high of $12.44. The firm's fifty day simple moving average is $8.01 and its 200 day simple moving average is $8.96. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. Equities research analysts expect 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.