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

Kovack Advisors Inc. increased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 20.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778,850 shares of the communications equipment provider's stock after acquiring an additional 134,900 shares during the period. Kovack Advisors Inc. owned about 0.98% of ADTRAN worth $4,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Inspire Investing LLC bought a new position in shares of ADTRAN in the first quarter worth about $356,000. Russell Investments Group Ltd. increased its stake in shares of ADTRAN by 12.5% in the 1st quarter. Russell Investments Group Ltd. now owns 196,990 shares of the communications equipment provider's stock valued at $1,072,000 after buying an additional 21,893 shares during the period. William Blair Investment Management LLC increased its stake in shares of ADTRAN by 22.5% in 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 buying an additional 817,762 shares during the period. PEAK6 Investments LLC raised its position 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 worth $96,000 after acquiring an additional 3,911 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ADTRAN by 3.4% during 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 acquiring an additional 2,764 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on ADTN shares. Needham & Company LLC boosted their price objective on ADTRAN from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Rosenblatt Securities raised shares of ADTRAN from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of ADTRAN from a "sell" rating to a "hold" rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ADTRAN presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

ADTRAN Trading Down 1.0 %

ADTRAN stock traded down $0.08 during midday trading on Wednesday, hitting $7.99. 837,374 shares of the stock were exchanged, compared to its average volume of 819,937. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week 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 has a market capitalization of $633.05 million, a PE ratio of -1.23 and a beta of 1.20. The company has a fifty day simple moving average of $6.08 and a two-hundred day simple moving average of $5.63.

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.