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

Key Points

• ADTRAN Holdings, Inc. experienced a significant 316.4% increase in short interest in September, rising to 6,620,000 shares as of September 30th.
• The company's stock has a 12-month range of $6.02 to $12.44, currently trading at around $9.04, with a market cap of $723 million.
• Wall Street analysts have mixed views on ADTRAN, with a consensus rating of "Moderate Buy" and a target price of $12.80, while some analysts have downgraded their ratings.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 6,620,000 shares, an increase 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 short-interest ratio is currently 4.3 days. Based on an average daily trading volume, of 1,530,000 shares, the short-interest ratio is currently 4.3 days.

ADTRAN Trading Down 3.9%

Shares of ADTN stock opened at $9.04 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average of $9.30 and a 200-day moving average of $8.67. ADTRAN has a 12-month low of $6.02 and a 12-month high of $12.44. The firm has a market cap of $723.00 million, a P/E ratio of -6.90 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $358.27 million during the quarter. Sell-side analysts anticipate that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Inspire Investing LLC grew its stake in ADTRAN by 10.1% in the 3rd quarter. Inspire Investing LLC now owns 48,183 shares of the communications equipment provider's stock valued at $452,000 after buying an additional 4,417 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of ADTRAN by 691.6% in the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider's stock valued at $8,749,000 after purchasing an additional 814,864 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of ADTRAN by 56.4% in the second quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider's stock valued at $5,659,000 after purchasing an additional 227,448 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of ADTRAN in the second quarter valued at $27,000. Finally, State of Wyoming purchased a new position in ADTRAN during the 2nd quarter valued at about $374,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADTN. Weiss Ratings restated a "sell (e+)" rating on shares of ADTRAN in a report on Wednesday, October 8th. Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wolfe Research initiated coverage on ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, B. Riley initiated coverage on ADTRAN in a research note on Thursday, September 18th. They set a "buy" rating and a $16.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of "Moderate Buy" and a consensus target price of $12.80.

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.

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