Bayesian Capital Management LP Takes $256,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Bayesian Capital Management LP bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 47,000 shares of the communications equipment provider’s stock, valued at approximately $256,000. Bayesian Capital Management LP owned about 0.06% of ADTRAN at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ADTN. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN in the 4th quarter valued at $27,000. Nisa Investment Advisors LLC lifted its stake in ADTRAN by 20,809.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after purchasing an additional 6,867 shares during the last quarter. RPO LLC purchased a new stake in ADTRAN during the fourth quarter valued at about $84,000. PEAK6 Investments LLC grew its stake in shares of ADTRAN by 28.5% during the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after buying an additional 3,911 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,326 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADTN shares. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research report on Monday, May 20th. StockNews.com lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. Northland Capmk upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Northland Securities upgraded shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ADTRAN currently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

ADTRAN Stock Up 0.6 %

Shares of NASDAQ ADTN opened at $6.77 on Thursday. The firm has a fifty day simple moving average of $5.48 and a two-hundred day simple moving average of $5.65. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $9.94. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $535.62 million, a PE ratio of -0.98 and a beta of 1.21.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. The business had revenue of $226.17 million for the quarter, compared to analysts’ expectations of $223.00 million. Equities analysts expect that ADTRAN Holdings, Inc. will post -0.23 earnings per share for the current 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.