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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,350,000 shares, a decrease of 11.0% from the September 15th total of 2,640,000 shares. Based on an average trading volume of 577,200 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

Several research firms recently weighed in on ADTN. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research note on Thursday, August 8th. Rosenblatt Securities reissued a “neutral” rating and set a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ADTRAN has a consensus rating of “Moderate Buy” and an average target price of $7.17.

Institutional Investors Weigh In On ADTRAN

Institutional investors have recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of ADTRAN in the third quarter valued at approximately $65,000. Point72 DIFC Ltd acquired a new stake in ADTRAN in the 2nd quarter valued at $69,000. SG Americas Securities LLC acquired a new position in shares of ADTRAN during the 2nd quarter worth about $90,000. PEAK6 Investments LLC grew its holdings in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after acquiring an additional 3,911 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of ADTRAN in the second quarter valued at about $120,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 0.7 %

ADTRAN stock opened at $6.16 on Thursday. ADTRAN has a twelve month low of $4.34 and a twelve month high of $7.66. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $5.51 and a 200-day moving average of $5.38. The stock has a market capitalization of $487.36 million, a PE ratio of -0.90 and a beta of 1.19.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The firm had revenue of $225.99 million during the quarter, compared to analyst estimates of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. On average, equities research analysts anticipate that ADTRAN will post -0.41 EPS for the current fiscal 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.