ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 26.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,340 shares of the communications equipment provider’s stock after buying an additional 142,100 shares during the quarter. Renaissance Technologies LLC owned 0.86% of ADTRAN worth $3,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of ADTRAN in the 2nd quarter valued at about $90,000. PEAK6 Investments LLC lifted its holdings in ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of ADTRAN during the 4th quarter worth about $219,000. Versor Investments LP grew its holdings in shares of ADTRAN by 36.5% during the second quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 8,100 shares in the last quarter. Finally, Aristides Capital LLC purchased a new stake in ADTRAN in the 4th quarter worth approximately $227,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADTN. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th. StockNews.com lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.17.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $5.91 on Monday. The business has a 50 day moving average price of $5.55 and a two-hundred day moving average price of $5.33. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $8.56. The firm has a market cap of $467.58 million, a PE ratio of -0.86 and a beta of 1.19. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The company had revenue of $225.99 million during the quarter, compared to the consensus estimate of $225.95 million. ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. Sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

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.