Dynamic Technology Lab Private Ltd Sells 15,682 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Dynamic Technology Lab Private Ltd cut its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 22.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,353 shares of the communications equipment provider’s stock after selling 15,682 shares during the period. Dynamic Technology Lab Private Ltd owned 0.07% of ADTRAN worth $317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PEAK6 Investments LLC increased its position in ADTRAN by 28.5% during the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after buying an additional 2,764 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of ADTRAN by 37.9% during the first quarter. Public Employees Retirement System of Ohio now owns 118,066 shares of the communications equipment provider’s stock valued at $642,000 after buying an additional 32,446 shares during the period. DNB Asset Management AS raised its stake in ADTRAN by 33.4% in the second quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock worth $24,364,000 after buying an additional 1,159,809 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ADTRAN in the second quarter worth about $90,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADTN shares. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.00 to $10.00 in a report on Friday, November 8th. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC increased their price objective on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.50.

ADTRAN Price Performance

ADTN stock opened at $8.50 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The firm has a market capitalization of $674.10 million, a price-to-earnings ratio of -1.31 and a beta of 1.20. The firm has a 50 day moving average price of $6.76 and a 200-day moving average price of $5.89. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $9.05.

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.