Kovack Advisors Inc. Has $4.62 Million Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Kovack Advisors Inc. boosted its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 20.9% in the third quarter, Holdings Channel.com reports. The firm owned 778,850 shares of the communications equipment provider’s stock after purchasing an additional 134,900 shares during the period. Kovack Advisors Inc.’s holdings in ADTRAN were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 173.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after buying an additional 1,551,000 shares during the last quarter. Millennium Management LLC lifted its stake in ADTRAN by 8,824.3% in the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock valued at $8,151,000 after acquiring an additional 1,532,257 shares during the last quarter. DNB Asset Management AS grew its position 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 acquiring an additional 1,159,809 shares in the last quarter. Divisar Capital Management LLC increased its stake in shares of ADTRAN by 25.0% during the 2nd quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock worth $30,195,000 after purchasing an additional 1,146,774 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of ADTRAN by 22.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock valued at $24,241,000 after purchasing an additional 817,762 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

ADTN stock traded up $0.20 during mid-day trading on Wednesday, reaching $8.27. 133,119 shares of the stock traded hands, compared to its average volume of 816,737. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $6.03 and a two-hundred day moving average of $5.61. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $8.29.

Analysts Set New Price Targets

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

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.