ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Down 13.2% in May

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 1,980,000 shares, a decrease of 13.2% from the April 30th total of 2,280,000 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On ADTRAN

Several institutional investors have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC boosted its stake in ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in ADTRAN in the first quarter valued at approximately $65,000. Ballentine Partners LLC bought a new position in ADTRAN during the first quarter valued at $94,000. Financial Engines Advisors L.L.C. purchased a new stake in ADTRAN in the first quarter worth $106,000. Finally, SIH Partners LLLP purchased a new stake in ADTRAN in the fourth quarter worth $107,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

ADTRAN stock opened at $8.30 on Wednesday. ADTRAN has a 52 week low of $4.62 and a 52 week high of $12.44. The company’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $8.96. The stock has a market cap of $663.82 million, a P/E ratio of -1.27 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. On average, equities analysts predict that ADTRAN will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on ADTN shares. Rosenblatt Securities cut their target price on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC dropped their price objective on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.