Trexquant Investment LP Buys 120,926 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Trexquant Investment LP increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 72.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 286,855 shares of the communications equipment provider's stock after purchasing an additional 120,926 shares during the quarter. Trexquant Investment LP owned approximately 0.36% of ADTRAN worth $2,390,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the 3rd quarter valued at $92,000. Point72 Asset Management L.P. acquired a new stake in ADTRAN during the third quarter valued at $114,000. Quantinno Capital Management LP purchased a new position in ADTRAN in the third quarter valued at about $120,000. Quantbot Technologies LP increased its position in ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after purchasing an additional 7,636 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of ADTRAN during the 4th quarter worth about $140,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of ADTRAN stock traded up $0.08 during trading on Friday, reaching $7.62. The company's stock had a trading volume of 547,049 shares, compared to its average volume of 924,569. ADTRAN Holdings, Inc. has a one year low of $4.34 and a one year high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The firm has a market cap of $609.31 million, a price-to-earnings ratio of -1.17 and a beta of 1.46. The business's fifty day moving average price is $9.63 and its 200-day moving average price is $8.60.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of research reports. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price objective on the stock. Needham & Company LLC raised their price target on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $15.00 target price on shares of ADTRAN in a research report on Friday, February 28th. Finally, Northland Securities upped their price target on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $13.50.

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.