ADTRAN Holdings, Inc. (NASDAQ:ADTN) Sees Significant Decrease in Short Interest

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 956,000 shares, a decline of 28.7% from the January 15th total of 1,340,000 shares. Based on an average daily trading volume, of 902,700 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 4,177 shares in the last quarter. Aquatic Capital Management LLC grew its stake in ADTRAN by 1,572.5% during the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 6,290 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the third quarter worth approximately $92,000. SIH Partners LLLP acquired a new position in ADTRAN in the 4th quarter valued at approximately $107,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of ADTRAN by 94.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider's stock valued at $112,000 after buying an additional 9,202 shares during the period. Institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADTN. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of ADTRAN in a report on Thursday, January 16th. Rosenblatt Securities raised their target price on ADTRAN from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Craig Hallum assumed coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Northland Securities boosted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $12.75.

ADTRAN Price Performance

Shares of NASDAQ:ADTN traded down $0.18 during trading on Monday, reaching $11.65. The company had a trading volume of 1,016,881 shares, compared to its average volume of 1,115,963. ADTRAN has a twelve month low of $4.34 and a twelve month high of $12.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The firm has a market capitalization of $923.96 million, a PE ratio of -1.79 and a beta of 1.29. The firm's fifty day moving average is $9.72 and its 200 day moving average is $7.51.

ADTRAN Company Profile

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.