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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a significant increase in short interest in 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 daily volume of 757,300 shares, the short-interest ratio is currently 4.4 days.

ADTRAN Price Performance

Shares of ADTN opened at $4.43 on Friday. The business’s 50-day moving average is $5.48 and its two-hundred day moving average is $6.22. The company has a market capitalization of $350.50 million, a P/E ratio of -1.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. ADTRAN has a fifty-two week low of $4.43 and a fifty-two week high of $11.02.

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 the consensus estimate of ($0.12) by ($1.01). The company had revenue of $225.48 million for the quarter, compared to analyst estimates of $232.45 million. ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. Research analysts predict that ADTRAN will post -0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com raised ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research report on Wednesday, April 17th. Finally, Rosenblatt Securities cut their target price on ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.50.

Institutional Investors Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ADTRAN by 19.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider’s stock worth $125,000 after acquiring an additional 2,500 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of ADTRAN by 28.4% during the 4th 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 in the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN during the 4th quarter worth about $27,000. PNC Financial Services Group Inc. boosted its stake in shares of ADTRAN by 91.5% during the 3rd 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of ADTRAN by 20,809.1% during the 4th 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 in the last quarter. 80.56% of the stock is 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.