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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 2,590,000 shares, an increase of 20.5% from the June 30th total of 2,150,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is currently 2.2 days.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock worth $453,000 after acquiring an additional 2,764 shares during the period. Victory Capital Management Inc. increased its position in 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. Cape Investment Advisory Inc. acquired a new stake in ADTRAN during the fourth quarter worth about $27,000. PEAK6 Investments LLC grew its stake in ADTRAN by 28.5% during the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 3,911 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. grew its stake in ADTRAN by 13.9% during the first quarter. Koesten Hirschmann & Crabtree INC. now owns 54,099 shares of the communications equipment provider’s stock worth $294,000 after buying an additional 6,587 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Price Performance

NASDAQ:ADTN opened at $6.44 on Tuesday. ADTRAN has a 52 week low of $4.34 and a 52 week high of $9.94. The firm has a market cap of $509.53 million, a price-to-earnings ratio of -0.94 and a beta of 1.21. The firm’s 50-day simple moving average is $5.45 and its 200 day simple moving average is $5.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.46.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The business had revenue of $226.17 million for the quarter, compared to analyst estimates of $223.00 million. As a group, sell-side analysts predict that ADTRAN will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADTN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research report on Monday, May 20th. StockNews.com cut ADTRAN from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. Northland Capmk raised ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Northland Securities upgraded ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.67.

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.