ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Up 23.5% in February

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADTN. Wolverine Asset Management LLC bought a new position in ADTRAN during the 3rd quarter worth about $2,443,000. SG Capital Management LLC bought a new stake in shares of ADTRAN in the second quarter valued at about $7,601,000. Los Angeles Capital Management LLC acquired a new position in shares of ADTRAN during the second quarter worth about $418,000. Hussman Strategic Advisors Inc. bought a new position in shares of ADTRAN during the third quarter worth about $1,379,000. Finally, Squarepoint Ops LLC raised its position in ADTRAN by 56.4% in the 2nd quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider’s stock valued at $5,659,000 after buying an additional 227,448 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Down 0.8%

ADTN opened at $9.88 on Wednesday. The firm’s fifty day moving average is $9.50 and its two-hundred day moving average is $9.14. The firm has a market cap of $796.92 million, a PE ratio of -19.37 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 has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data 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. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The business had revenue of $291.56 million for the quarter, compared to the consensus estimate of $281.12 million. The company’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts anticipate that ADTRAN will post -0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADTN shares. Rosenblatt Securities boosted their price objective on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and an average target price of $15.33.

ADTRAN Company Profile

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.