ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Down 5.5% in March

ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Free Report) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 2,930,000 shares, a decline of 5.5% from the February 29th total of 3,100,000 shares. Based on an average daily volume of 744,200 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. Envestnet Asset Management Inc. raised its holdings in shares of ADTRAN by 3.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock valued at $337,000 after acquiring an additional 585 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ADTRAN by 1.5% in the first quarter. JPMorgan Chase & Co. now owns 277,080 shares of the communications equipment provider’s stock worth $5,112,000 after purchasing an additional 4,148 shares during the period. Raymond James & Associates increased its stake in shares of ADTRAN by 5.3% in the 1st quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock worth $368,000 after acquiring an additional 995 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of ADTRAN by 7.5% during the first quarter. Citigroup Inc. now owns 51,167 shares of the communications equipment provider’s stock valued at $944,000 after purchasing an additional 3,579 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in ADTRAN by 51.8% in the first quarter. MetLife Investment Management LLC now owns 25,302 shares of the communications equipment provider’s stock worth $467,000 after acquiring an additional 8,632 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Up 2.3 %

Shares of NASDAQ:ADTN opened at $5.44 on Monday. The business has a fifty day simple moving average of $6.14 and a 200 day simple moving average of $6.63. ADTRAN has a 12-month low of $4.91 and a 12-month high of $15.95. The firm has a market cap of $430.41 million, a P/E ratio of -1.70 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 (NASDAQ:ADTNGet Free Report) last released its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. The company had revenue of $225.48 million for the quarter, compared to analyst estimates of $232.45 million. Analysts predict that ADTRAN will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ADTN. StockNews.com raised shares of ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. Needham & Company LLC reduced their price target on shares of ADTRAN from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities cut their target price on ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Hold” and a consensus price target of $11.13.

Read Our Latest Report on ADTRAN

ADTRAN Company Profile

(Get Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

Further Reading

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