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

BNP Paribas Financial Markets bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 47,930 shares of the communications equipment provider's stock, valued at approximately $399,000. BNP Paribas Financial Markets owned about 0.06% of ADTRAN at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aquatic Capital Management LLC boosted its position in shares of ADTRAN by 1,572.5% during the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 6,290 shares in the last quarter. SIH Partners LLLP bought a new position in ADTRAN in the fourth quarter valued at approximately $107,000. Hsbc Holdings PLC boosted its stake in ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after acquiring an additional 1,501 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after purchasing an additional 7,636 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of ADTRAN in the fourth quarter valued at about $140,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on ADTN. Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC decreased their target price 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Price Performance

ADTN stock traded down $0.05 during midday trading on Friday, reaching $8.11. 187,613 shares of the stock were exchanged, compared to its average volume of 932,665. The stock has a market capitalization of $648.62 million, a PE ratio of -1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The company has a fifty day moving average price of $7.97 and a 200 day moving average price of $8.95. ADTRAN Holdings, Inc. has a 52 week low of $4.62 and a 52 week high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results 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 net margin of 56.95% and a negative return on equity of 38.62%. During the same quarter last year, the business posted $0.02 EPS. The firm's revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

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.