GSA Capital Partners LLP Has $2.91 Million Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

GSA Capital Partners LLP boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 99.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 491,414 shares of the communications equipment provider's stock after acquiring an additional 244,901 shares during the period. GSA Capital Partners LLP owned about 0.62% of ADTRAN worth $2,914,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADTN. William Blair Investment Management LLC raised its holdings in shares of ADTRAN by 22.5% during the first 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 last quarter. Renaissance Technologies LLC raised its holdings in ADTRAN by 26.4% during the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider's stock worth $3,579,000 after purchasing an additional 142,100 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in ADTRAN by 173.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider's stock worth $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in ADTRAN during the second quarter worth approximately $681,000. Finally, Inspire Investing LLC acquired a new position in ADTRAN in the first quarter worth approximately $356,000. Institutional investors own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ADTN shares. Rosenblatt Securities upgraded shares of ADTRAN from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $6.00 to $10.00 in a research report on Friday. Needham & Company LLC lifted their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday. Finally, StockNews.com upgraded shares of ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Two 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

ADTRAN Stock Down 1.2 %

Shares of NASDAQ:ADTN traded down $0.10 during trading on Tuesday, reaching $8.07. 1,040,214 shares of the company traded hands, compared to its average volume of 819,859. The firm has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $5.59. The firm has a market cap of $639.40 million, a P/E ratio of -1.25 and a beta of 1.20. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $8.26. The company has a quick ratio of 1.31, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

ADTRAN Company 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.