ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stake Raised by Kovack Advisors Inc.

Kovack Advisors Inc. grew its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 778,850 shares of the communications equipment provider’s stock after purchasing an additional 134,900 shares during the period. Kovack Advisors Inc. owned approximately 0.98% of ADTRAN worth $4,619,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in ADTRAN by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after purchasing an additional 2,396 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of ADTRAN by 3.4% in 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 in the last quarter. Inspire Investing LLC lifted its position in shares of ADTRAN by 5.1% during the 3rd quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock valued at $413,000 after acquiring an additional 3,387 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ADTRAN by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Finally, PEAK6 Investments LLC grew its holdings in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after acquiring an additional 3,911 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ:ADTN traded up $0.20 during trading hours on Wednesday, hitting $8.27. 133,119 shares of the company’s stock traded hands, compared to its average volume of 816,737. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $8.29. 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 stock’s fifty day moving average price is $6.03 and its two-hundred day moving average price is $5.61.

Analysts Set New Price Targets

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

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.