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

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,030,000 shares, a growth of 39.0% from the March 15th total of 1,460,000 shares. Approximately 2.6% of the company's shares are sold short. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 1.6 days.

ADTRAN Price Performance

ADTN traded up $0.35 during trading on Wednesday, reaching $7.82. 254,819 shares of the company were exchanged, compared to its average volume of 926,701. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. The company has a market cap of $625.30 million, a price-to-earnings ratio of -1.20 and a beta of 1.46. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The company's 50-day moving average is $9.10 and its two-hundred day moving average is $8.67.

Institutional Investors Weigh In On ADTRAN

Hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP grew its holdings in shares of ADTRAN by 4.3% in the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock worth $176,000 after purchasing an additional 877 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its position in ADTRAN by 6.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock valued at $190,000 after buying an additional 1,300 shares during the period. Hsbc Holdings PLC grew its holdings in ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after acquiring an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ADTRAN by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after acquiring an additional 1,605 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of ADTRAN by 0.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock valued at $2,320,000 after acquiring an additional 1,670 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADTN has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities cut their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Craig Hallum assumed coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price target on the stock. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $12.50.

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.