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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,320,000 shares, a growth of 43.7% from the March 31st total of 2,310,000 shares. Based on an average daily trading volume, of 757,300 shares, the short-interest ratio is presently 4.4 days.

Institutional Investors Weigh In On ADTRAN

Several hedge funds have recently modified their holdings of ADTN. Kovack Advisors Inc. raised its position in ADTRAN by 29.7% in the first quarter. Kovack Advisors Inc. now owns 561,350 shares of the communications equipment provider’s stock worth $3,054,000 after acquiring an additional 128,600 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in ADTRAN in the fourth quarter worth $219,000. Aristides Capital LLC purchased a new position in ADTRAN in the fourth quarter worth $227,000. Campbell & CO Investment Adviser LLC purchased a new position in ADTRAN in the fourth quarter worth $507,000. Finally, RPO LLC purchased a new position in ADTRAN in the fourth quarter worth $84,000. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $4.43 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.64 and a quick ratio of 1.34. The stock has a fifty day moving average price of $5.44 and a 200 day moving average price of $6.19. ADTRAN has a 1-year low of $4.43 and a 1-year high of $11.02. The company has a market cap of $350.50 million, a PE ratio of -1.38 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN) last issued 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). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The company had revenue of $225.48 million for the quarter, compared to analyst estimates of $232.45 million. Sell-side analysts forecast that ADTRAN will post -0.25 EPS for the current year.

Analysts Set New Price Targets

ADTN has been the topic of a number of recent research reports. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a research note on Wednesday, March 6th. Rosenblatt Securities dropped their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of ADTRAN in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.50.

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.