ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Update

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,320,000 shares, an increase of 43.7% from the March 31st total of 2,310,000 shares. Based on an average daily trading volume, of 757,300 shares, the days-to-cover ratio is presently 4.4 days.

ADTRAN Stock Down 3.1 %

Shares of ADTN stock opened at $4.43 on Friday. The stock’s 50-day simple moving average is $5.44 and its 200-day simple moving average is $6.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. The firm has a market capitalization of $350.50 million, a PE ratio of -1.38 and a beta of 1.13. ADTRAN has a fifty-two week low of $4.43 and a fifty-two week high of $11.02.

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

Analyst Ratings Changes

ADTN has been the topic of a number of research reports. StockNews.com raised ADTRAN to a “sell” rating in a report on Wednesday, March 6th. Rosenblatt Securities cut their price objective on 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 objective on shares of ADTRAN in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Institutional Trading of ADTRAN

Several hedge funds and other institutional investors have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. acquired a new stake in ADTRAN during the fourth quarter worth about $27,000. Nisa Investment Advisors LLC grew its holdings in ADTRAN by 20,809.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after acquiring an additional 6,867 shares during the period. RPO LLC acquired a new stake in ADTRAN in the fourth quarter valued at approximately $84,000. PNC Financial Services Group Inc. grew its holdings in ADTRAN by 91.5% in the third quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock valued at $106,000 after purchasing an additional 6,179 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 3,326 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Company 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.