Hsbc Holdings PLC Buys 1,501 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Hsbc Holdings PLC raised its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,681 shares of the communications equipment provider’s stock after buying an additional 1,501 shares during the quarter. Hsbc Holdings PLC’s holdings in ADTRAN were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SIH Partners LLLP acquired a new stake in shares of ADTRAN in the 4th quarter valued at approximately $107,000. Quantbot Technologies LP grew its holdings in ADTRAN by 104.5% during the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after purchasing an additional 7,636 shares during the period. Magnetar Financial LLC bought a new stake in ADTRAN in the fourth quarter valued at approximately $140,000. Inceptionr LLC acquired a new stake in ADTRAN in the fourth quarter worth $162,000. Finally, Catalyst Funds Management Pty Ltd boosted its position in shares of ADTRAN by 6.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

ADTN has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Rosenblatt Securities lowered their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

ADTRAN Stock Performance

Shares of ADTN opened at $7.71 on Monday. The firm has a market cap of $616.51 million, a P/E ratio of -1.18 and a beta of 1.33. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month 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’s 50 day moving average price is $8.26 and its two-hundred day moving average price is $8.84.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. On average, analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

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.