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Shares of ADTRAN (NASDAQ:ADTN) were the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,946,307 shares, a decline of 20.6% from the July 15th total of 3,711,871 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 719,388 shares, the short-interest ratio is presently 4.1 days. Approximately 5.3% of the shares of the company are sold short.

A number of analysts have recently weighed in on ADTN shares. Analysts at Zacks downgraded shares of ADTRAN from a “neutral” rating to an “underperform” rating in a research note on Friday, August 8th. They now have a $20.00 price target on the stock. Separately, analysts at MKM Partners cut their price target on shares of ADTRAN from $26.00 to $25.00 in a research note on Thursday, July 17th. They now have a “neutral” rating on the stock. Finally, analysts at Needham & Company LLC cut their price target on shares of ADTRAN from $30.00 to $28.00 in a research note on Thursday, July 17th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.93.

Shares of ADTRAN (NASDAQ:ADTN) opened at 22.15 on Monday. ADTRAN has a 52-week low of $20.72 and a 52-week high of $27.98. The stock has a 50-day moving average of $22.4 and a 200-day moving average of $23.55. The company has a market cap of $1.212 billion and a P/E ratio of 24.50.

ADTRAN (NASDAQ:ADTN) last released its earnings data on Wednesday, July 16th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $176.10 million for the quarter, compared to the consensus estimate of $175.68 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that ADTRAN will post $0.94 EPS for the current fiscal year.

ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.

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