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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 6,620,000 shares, a growth of 316.4% from the September 15th total of 1,590,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 4.3 days. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Investors Weigh In On ADTRAN

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of ADTRAN by 762.1% during the 1st quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider’s stock valued at $239,000 after acquiring an additional 24,182 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of ADTRAN during the 1st quarter valued at $1,880,000. Swiss National Bank acquired a new stake in shares of ADTRAN during the 1st quarter valued at $1,273,000. Raymond James Financial Inc. lifted its position in shares of ADTRAN by 47.9% during the 1st quarter. Raymond James Financial Inc. now owns 380,898 shares of the communications equipment provider’s stock valued at $3,321,000 after acquiring an additional 123,307 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of ADTRAN by 325.4% during the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock valued at $10,317,000 after acquiring an additional 905,056 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

ADTN has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. B. Riley started coverage on ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Wolfe Research started coverage on ADTRAN in a research note on Monday, July 7th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.80.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $9.04 on Monday. The stock has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $8.68. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The firm has a market cap of $723.02 million, a P/E ratio of -6.90 and a beta of 1.37. ADTRAN has a 1 year low of $6.02 and a 1 year high of $12.44.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The company had revenue of $358.27 million during the quarter. Research analysts forecast that ADTRAN will post -0.5 EPS for the current fiscal year.

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.