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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of 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 trading volume of 757,300 shares, the days-to-cover ratio is currently 4.4 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADTN. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Wednesday, April 17th. Rosenblatt Securities reduced their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com raised shares of ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

ADTRAN Trading Down 3.1 %

Shares of NASDAQ ADTN opened at $4.43 on Friday. The company’s fifty day moving average is $5.48 and its 200-day moving average is $6.22. The stock has a market cap of $350.50 million, a price-to-earnings ratio of -1.38 and a beta of 1.13. ADTRAN has a twelve month low of $4.43 and a twelve month high of $11.02. 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:ADTN) last announced its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The firm had revenue of $225.48 million for the quarter, compared to the consensus estimate of $232.45 million. Equities research analysts predict that ADTRAN will post -0.25 EPS for the current year.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently made changes to their positions in ADTN. Cape Investment Advisory Inc. acquired a new stake in shares of ADTRAN during the fourth quarter worth $27,000. Nisa Investment Advisors LLC raised its holdings in shares of 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 shares of ADTRAN during the fourth quarter worth $84,000. PNC Financial Services Group Inc. raised its holdings in shares of ADTRAN by 91.5% during the third quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 6,179 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of ADTRAN by 28.4% during the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after acquiring an additional 3,326 shares during the period. 80.56% of the stock is currently 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.