ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Update

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,630,000 shares, a growth of 40.5% from the December 15th total of 1,160,000 shares. Based on an average daily volume of 666,300 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price objective on the stock. StockNews.com raised ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Northland Securities lifted their price objective on ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Needham & Company LLC lifted their price objective on ADTRAN from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised ADTRAN from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $6.00 to $10.00 in a research report on Friday, November 8th. One research 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $11.50.

Institutional Trading of ADTRAN

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of ADTRAN by 798.7% in 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. Park Avenue Securities LLC purchased a new position in ADTRAN in the 3rd quarter worth approximately $65,000. Point72 DIFC Ltd purchased a new position in ADTRAN in the 2nd quarter worth approximately $69,000. Intech Investment Management LLC purchased a new position in ADTRAN in the 3rd quarter worth approximately $92,000. Finally, Harbor Capital Advisors Inc. raised its holdings 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 acquiring an additional 9,202 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Up 1.9 %

Shares of ADTN traded up $0.19 during mid-day trading on Wednesday, reaching $10.13. The company had a trading volume of 914,082 shares, compared to its average volume of 1,098,086. 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 50-day moving average price of $8.54 and a 200 day moving average price of $6.71. ADTRAN has a 52 week low of $4.34 and a 52 week high of $10.71. The company has a market capitalization of $803.37 million, a price-to-earnings ratio of -1.56 and a beta of 1.28.

About ADTRAN

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.