Herald Investment Management Ltd Sells 100,000 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Herald Investment Management Ltd decreased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 25.0% during the fourth quarter, HoldingsChannel reports. The firm owned 300,000 shares of the communications equipment provider’s stock after selling 100,000 shares during the period. Herald Investment Management Ltd’s holdings in ADTRAN were worth $2,499,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised 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 buying an additional 7,636 shares in the last quarter. Magnetar Financial LLC bought a new position in ADTRAN during the fourth quarter valued at approximately $140,000. Inceptionr LLC purchased a new position in shares of ADTRAN during the fourth quarter worth approximately $162,000. Catalyst Funds Management Pty Ltd lifted its holdings in shares of ADTRAN by 6.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of ADTRAN by 62.0% in the 4th quarter. Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider’s stock valued at $209,000 after purchasing an additional 9,585 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADTN shares. Needham & Company LLC lifted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Craig Hallum began coverage on ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Finally, Northland Securities lifted their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ADTRAN presently has an average rating of “Buy” and an average price target of $13.50.

ADTRAN Trading Down 0.3 %

Shares of NASDAQ ADTN opened at $7.43 on Friday. The firm’s 50 day moving average price is $9.33 and its 200-day moving average price is $8.62. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. 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 company has a market cap of $594.12 million, a PE ratio of -1.14 and a beta of 1.46.

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.