ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Free Report) 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
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 – Get Free Report) 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.
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