A10 Networks (NYSE:ATEN) released its quarterly earnings results on Tuesday. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.10, MarketWatch Earnings reports. A10 Networks had a negative return on equity of 22.63% and a negative net margin of 11.29%. The company had revenue of $60.50 million during the quarter, compared to the consensus estimate of $58.00 million.
Shares of NYSE ATEN traded up $0.37 during trading hours on Wednesday, hitting $6.07. 23,596 shares of the company’s stock were exchanged, compared to its average volume of 319,840. A10 Networks has a 1-year low of $5.51 and a 1-year high of $8.25.
Separately, Zacks Investment Research cut A10 Networks from a “hold” rating to a “sell” rating in a research report on Monday, September 10th.
A hedge fund recently raised its stake in A10 Networks stock. Bank of New York Mellon Corp increased its holdings in shares of A10 Networks Inc (NYSE:ATEN) by 7.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 240,757 shares of the communications equipment provider’s stock after purchasing an additional 16,149 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of A10 Networks worth $1,500,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 62.34% of the company’s stock.
About A10 Networks
A10 Networks, Inc provides software and hardware solutions in the United States, Japan, other Asia Pacific and EMEA countries, and internationally. The company offers Thunder application delivery controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and micro services; and Thunder carrier grade network address translation product, which offers network address and protocol translation services for service provider networks.
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