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

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,980,000 shares, a drop of 13.2% from the April 30th total of 2,280,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is presently 1.8 days. Currently, 2.5% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of analyst reports. Needham & Company LLC cut their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Rosenblatt Securities reduced their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Hedge Funds Weigh In On ADTRAN

Several hedge funds have recently made changes to their positions in ADTN. Aquatic Capital Management LLC grew its holdings in shares of ADTRAN by 1,572.5% in the 4th 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 in the last quarter. FNY Investment Advisers LLC bought a new position in ADTRAN in the first quarter valued at approximately $65,000. Ballentine Partners LLC acquired a new position in shares of ADTRAN during the 1st quarter worth approximately $94,000. Financial Engines Advisors L.L.C. acquired a new position in shares of ADTRAN during the 1st quarter worth approximately $106,000. Finally, SIH Partners LLLP bought a new stake in shares of ADTRAN during the 4th quarter worth approximately $107,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Down 3.0%

ADTN traded down $0.25 during trading on Thursday, reaching $7.96. The company had a trading volume of 547,691 shares, compared to its average volume of 929,446. The company has a market cap of $636.62 million, a P/E ratio of -1.22 and a beta of 1.33. ADTRAN has a 12 month low of $4.62 and a 12 month high of $12.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The business's fifty day moving average price is $7.89 and its 200 day moving average price is $8.96.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts anticipate that ADTRAN will post -0.5 EPS for the current 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.