Short Interest in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Decreases By 17.8%

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,340,000 shares, a decline of 17.8% from the December 31st total of 1,630,000 shares. Based on an average daily trading volume, of 767,700 shares, the days-to-cover ratio is currently 1.7 days.

ADTRAN Stock Performance

NASDAQ ADTN traded up $0.12 on Tuesday, hitting $10.36. 446,304 shares of the company traded hands, compared to its average volume of 1,105,220. The business's 50 day moving average price is $9.18 and its 200-day moving average price is $7.17. ADTRAN has a 52-week low of $4.34 and a 52-week high of $11.23. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $821.81 million, a price-to-earnings ratio of -1.59 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. 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. Craig Hallum started coverage on shares of ADTRAN in a report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price target on the stock. Northland Securities boosted their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities increased 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $12.75.

Institutional Investors Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. Inspire Investing LLC increased its stake in shares of ADTRAN by 5.1% in the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider's stock worth $413,000 after purchasing an additional 3,387 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider's stock valued at $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Blue Trust Inc. grew its position in shares of ADTRAN by 798.7% during the third 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. SG Americas Securities LLC raised its stake in ADTRAN by 24.7% during the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock valued at $295,000 after purchasing an additional 7,011 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider's stock worth $112,000 after purchasing an additional 9,202 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.