Proficio Capital Partners LLC Purchases Shares of 36,019 ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Proficio Capital Partners LLC purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 36,019 shares of the communications equipment provider’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of ADTRAN in the third quarter worth approximately $92,000. Point72 Asset Management L.P. bought a new position in shares of ADTRAN in the third quarter worth approximately $114,000. Quantinno Capital Management LP bought a new position in shares of ADTRAN in the third quarter worth approximately $120,000. SG Americas Securities LLC grew its holdings in shares of ADTRAN by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock worth $295,000 after purchasing an additional 7,011 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after purchasing an additional 11,880 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $8.50 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $678.81 million, a P/E ratio of -1.31 and a beta of 1.29. The business has a fifty day simple moving average of $10.35 and a two-hundred day simple moving average of $8.10. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44.

Wall Street Analyst Weigh In

ADTN has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Northland Securities lifted their price target on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Craig Hallum assumed coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $13.50.

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.