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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 8,014,076 shares, a growth of 23.5% from the January 29th total of 6,490,309 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average daily volume of 1,079,979 shares, the days-to-cover ratio is currently 7.4 days. Based on an average daily volume of 1,079,979 shares, the days-to-cover ratio is currently 7.4 days. Currently, 10.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cape Investment Advisory Inc. acquired a new stake in shares of ADTRAN during the second quarter worth $27,000. State of Alaska Department of Revenue bought a new stake in ADTRAN during the third quarter valued at $36,000. Quarry LP acquired a new stake in ADTRAN during the 3rd quarter worth about $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN in the 4th quarter worth about $36,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $10.25 on Thursday. The stock has a market cap of $826.77 million, a price-to-earnings ratio of -20.10 and a beta of 1.37. ADTRAN has a twelve month low of $6.93 and a twelve month high of $11.10. The company’s fifty day moving average is $9.53 and its 200 day moving average is $9.14. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $291.56 million for the quarter, compared to the consensus estimate of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.ADTRAN’s revenue was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that ADTRAN will post -0.5 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on ADTN shares. Wall Street Zen upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Rosenblatt Securities boosted their price objective on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.33.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.