Y Intercept Hong Kong Ltd Sells 54,328 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Y Intercept Hong Kong Ltd reduced its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 45.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,602 shares of the communications equipment provider’s stock after selling 54,328 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.08% of ADTRAN worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares during the period. Park Avenue Securities LLC bought a new stake in ADTRAN during the third quarter worth about $65,000. Point72 DIFC Ltd acquired a new stake in ADTRAN during the second quarter worth about $69,000. SG Americas Securities LLC bought a new position in ADTRAN in the 2nd quarter valued at about $90,000. Finally, Intech Investment Management LLC bought a new stake in shares of ADTRAN during the 3rd quarter worth approximately $92,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.00 to $10.00 in a research note on Friday, November 8th. Needham & Company LLC boosted their price target on ADTRAN from $8.00 to $11.00 and gave the stock 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. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.50.

ADTRAN Stock Up 0.8 %

Shares of NASDAQ ADTN opened at $8.61 on Tuesday. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $9.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The firm has a market cap of $682.82 million, a PE ratio of -1.32 and a beta of 1.29. The company has a 50 day simple moving average of $7.37 and a 200 day simple moving average of $6.15.

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.