A10 Networks, Inc. (NYSE:ATEN) Short Interest Down 12.8% in August

A10 Networks, Inc. (NYSE:ATEN) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,450,000 shares, a decrease of 12.8% from the August 15th total of 2,810,000 shares. Based on an average daily trading volume, of 886,200 shares, the days-to-cover ratio is presently 2.8 days. Approximately 3.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ATEN shares. StockNews.com cut shares of A10 Networks from a “buy” rating to a “hold” rating in a report on Monday, July 1st. BWS Financial restated a “buy” rating and issued a $17.00 target price on shares of A10 Networks in a research note on Tuesday, July 9th.

A10 Networks Stock Performance

ATEN stock traded up $0.07 during mid-day trading on Wednesday, hitting $13.81. The company had a trading volume of 542,620 shares, compared to its average volume of 759,156. The stock’s fifty day moving average price is $13.40 and its two-hundred day moving average price is $13.85. A10 Networks has a 12 month low of $10.03 and a 12 month high of $16.46. The firm has a market cap of $1.03 billion, a PE ratio of 22.64 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Tuesday, July 30th. The communications equipment provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $60.10 million during the quarter, compared to analyst estimates of $64.30 million. A10 Networks had a return on equity of 21.29% and a net margin of 17.51%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Equities analysts anticipate that A10 Networks will post 0.65 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.74%. A10 Networks’s dividend payout ratio (DPR) is currently 39.34%.

Hedge Funds Weigh In On A10 Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of A10 Networks in the 2nd quarter worth $47,000. Algert Global LLC grew its position in A10 Networks by 161.6% in the second quarter. Algert Global LLC now owns 409,222 shares of the communications equipment provider’s stock worth $5,668,000 after acquiring an additional 252,816 shares in the last quarter. Mackenzie Financial Corp increased its stake in A10 Networks by 15.6% in the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after acquiring an additional 6,217 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in A10 Networks by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 776 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in A10 Networks during the second quarter worth about $9,562,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

About A10 Networks

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.