Short Interest in ADTRAN, Inc. (NASDAQ:ADTN) Increases By 14.7%

ADTRAN, Inc. (NASDAQ:ADTN) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 931,900 shares, a growth of 14.7% from the January 15th total of 812,200 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily volume of 240,100 shares, the days-to-cover ratio is currently 3.9 days.

A number of research analysts have recently weighed in on ADTN shares. ValuEngine upgraded ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of ADTRAN in a report on Thursday, February 6th. Zacks Investment Research upgraded ADTRAN from a “strong sell” rating to a “hold” rating and set a $8.50 target price on the stock in a report on Monday, January 6th. Finally, BidaskClub upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.63.

ADTN stock opened at $9.02 on Friday. ADTRAN has a twelve month low of $8.09 and a twelve month high of $17.81. The stock’s 50 day moving average is $9.67 and its 200-day moving average is $10.00. The firm has a market capitalization of $433.06 million, a PE ratio of -8.28, a P/E/G ratio of 28.70 and a beta of 1.29.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.09. The company had revenue of $115.79 million during the quarter, compared to the consensus estimate of $112.70 million. ADTRAN had a positive return on equity of 0.06% and a negative net margin of 9.99%. On average, research analysts expect that ADTRAN will post -0.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, February 19th. ADTRAN’s payout ratio is -3,600.00%.

In related news, SVP Marc Kimpe bought 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $9.02 per share, for a total transaction of $27,060.00. Following the completion of the acquisition, the senior vice president now directly owns 19,155 shares of the company’s stock, valued at $172,778.10. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.52% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its stake in shares of ADTRAN by 7.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 51,484 shares of the communications equipment provider’s stock valued at $509,000 after acquiring an additional 3,433 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of ADTRAN by 1.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 573,033 shares of the communications equipment provider’s stock valued at $5,667,000 after acquiring an additional 8,339 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ADTRAN by 171.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 159,767 shares of the communications equipment provider’s stock valued at $1,580,000 after acquiring an additional 100,883 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of ADTRAN by 6.0% in the 4th quarter. Penserra Capital Management LLC now owns 123,781 shares of the communications equipment provider’s stock valued at $1,149,000 after acquiring an additional 7,057 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of ADTRAN by 73.4% in the 4th quarter. UBS Group AG now owns 55,404 shares of the communications equipment provider’s stock valued at $547,000 after acquiring an additional 23,457 shares during the last quarter. 91.22% of the stock is owned by institutional investors.

About ADTRAN

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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