Dynamic Technology Lab Private Ltd Sells 30,053 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Dynamic Technology Lab Private Ltd lowered its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 56.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,300 shares of the communications equipment provider’s stock after selling 30,053 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in ADTRAN were worth $194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADTN. Point72 Asset Management L.P. acquired a new position in ADTRAN in the third quarter valued at about $114,000. Quantinno Capital Management LP bought a new stake in shares of ADTRAN in the 3rd quarter valued at about $120,000. Quantbot Technologies LP raised its position in shares of ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 7,636 shares during the period. Magnetar Financial LLC bought a new position in ADTRAN during the 4th quarter worth approximately $140,000. Finally, Inceptionr LLC acquired a new position in ADTRAN during the fourth quarter valued at approximately $162,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

ADTRAN Trading Up 1.1 %

Shares of NASDAQ:ADTN opened at $7.62 on Friday. The firm has a market cap of $609.31 million, a price-to-earnings ratio of -1.17 and a beta of 1.46. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The company’s fifty day simple moving average is $9.63 and its 200 day simple moving average is $8.60. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

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.