ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $9.47 and last traded at $9.47, with a volume of 105222 shares. The stock had previously closed at $9.04.
Analyst Ratings Changes
ADTN has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities raised their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.33.
View Our Latest Analysis on ADTN
ADTRAN Stock Up 5.2 %
Institutional Trading of ADTRAN
Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 4,177 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of ADTRAN during the 3rd quarter valued at $65,000. Point72 DIFC Ltd bought a new stake in shares of ADTRAN in the 2nd quarter worth $69,000. Intech Investment Management LLC acquired a new stake in shares of ADTRAN in the third quarter valued at $92,000. Finally, Harbor Capital Advisors Inc. boosted its stake in ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 9,202 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.
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.
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