Everence Capital Management Inc. Has $249,000 Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Everence Capital Management Inc. boosted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 142.8% in the 4th quarter, HoldingsChannel reports. The firm owned 33,940 shares of the communications equipment provider’s stock after acquiring an additional 19,960 shares during the period. Everence Capital Management Inc.’s holdings in ADTRAN were worth $249,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ADTN. FMR LLC lifted its stake in ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 574 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in ADTRAN by 165.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 1,386 shares during the last quarter. US Bancorp DE lifted its stake in ADTRAN by 328.0% in the 2nd quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 2,939 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in ADTRAN in the 3rd quarter valued at about $46,000. Finally, Nisa Investment Advisors LLC lifted its stake in ADTRAN by 20,809.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 6,867 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a research note on Wednesday, March 6th. Rosenblatt Securities lowered their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of ADTRAN in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, ADTRAN presently has a consensus rating of “Hold” and an average price target of $10.50.

ADTRAN Stock Up 1.7 %

ADTRAN stock opened at $4.73 on Friday. The stock has a market cap of $374.22 million, a P/E ratio of -1.48 and a beta of 1.13. The company has a quick ratio of 1.34, a current ratio of 2.64 and a debt-to-equity ratio of 0.33. ADTRAN Holdings, Inc. has a twelve month low of $4.59 and a twelve month high of $11.02. The company’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $6.34.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.01). The company had revenue of $225.48 million during the quarter, compared to the consensus estimate of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.25 EPS for the current 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.