Point72 Asia Singapore Pte. Ltd. Sells 1,427 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 45,809 shares of the communications equipment provider’s stock after selling 1,427 shares during the period. Point72 Asia Singapore Pte. Ltd. owned approximately 0.06% of ADTRAN worth $382,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Aquatic Capital Management LLC boosted its holdings in ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 6,290 shares during the last quarter. SIH Partners LLLP purchased a new position in shares of ADTRAN in the 4th quarter worth $107,000. Hsbc Holdings PLC grew its holdings in shares of ADTRAN by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after acquiring an additional 1,501 shares during the period. Quantbot Technologies LP increased its position 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 acquiring an additional 7,636 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in ADTRAN during the fourth quarter valued at $140,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ ADTN opened at $8.19 on Friday. The business’s fifty day moving average is $8.17 and its 200 day moving average is $8.86. ADTRAN Holdings, Inc. has a fifty-two week low of $4.62 and a fifty-two week 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 company has a market capitalization of $654.89 million, a PE ratio of -1.26 and a beta of 1.33.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. Sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on ADTN shares. Needham & Company LLC dropped their target price on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Rosenblatt Securities dropped their price objective on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock 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 data from MarketBeat, ADTRAN has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

ADTRAN 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.