ADTRAN Holdings, Inc. $ADTN Stock Position Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 160.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,181 shares of the communications equipment provider’s stock after purchasing an additional 23,500 shares during the period. Hsbc Holdings PLC’s holdings in ADTRAN were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC grew its stake in shares of ADTRAN by 1,572.5% in the 4th 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. FNY Investment Advisers LLC acquired a new position in shares of ADTRAN in the 1st quarter worth approximately $65,000. Ballentine Partners LLC acquired a new position in shares of ADTRAN in the 1st quarter worth approximately $94,000. Financial Engines Advisors L.L.C. acquired a new position in shares of ADTRAN in the 1st quarter worth approximately $106,000. Finally, CWM LLC grew its stake in shares of ADTRAN by 159.6% in the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider’s stock worth $116,000 after purchasing an additional 8,214 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ ADTN opened at $9.28 on Thursday. The company has a 50 day simple moving average of $9.15 and a 200-day simple moving average of $8.75. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The firm has a market capitalization of $742.21 million, a price-to-earnings ratio of -7.08 and a beta of 1.39. ADTRAN Holdings, Inc. has a 52-week low of $4.93 and a 52-week high of $12.44.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The company had revenue of $265.07 million during the quarter, compared to analysts’ expectations of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.ADTRAN’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the company earned ($0.24) earnings per share. Equities research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADTN shares. Wolfe Research started coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a “peer perform” rating on the stock. Needham & Company LLC lowered their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ADTRAN currently has an average rating of “Moderate Buy” and a consensus target price 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.