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

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,460,000 shares, a growth of 27.0% from the February 28th total of 1,150,000 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADTN. Rosenblatt Securities restated a "buy" rating and issued a $15.00 price objective on shares of ADTRAN in a report on Friday, February 28th. Craig Hallum started coverage on ADTRAN in a report on Wednesday, January 8th. They set a "buy" rating and a $15.00 target price for the company. Needham & Company LLC upped their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Northland Securities boosted their price target on ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $13.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Aquatic Capital Management LLC raised its holdings in ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 6,290 shares in the last quarter. SIH Partners LLLP purchased a new stake in shares of ADTRAN in the 4th quarter worth about $107,000. Hsbc Holdings PLC lifted its position in ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after acquiring an additional 1,501 shares during the period. Quantbot Technologies LP boosted its stake in ADTRAN by 104.5% during the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after acquiring an additional 7,636 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in ADTRAN in the third quarter worth about $92,000. Institutional investors own 80.56% of the company's stock.

Remove Ads

ADTRAN Trading Down 9.3 %

Shares of NASDAQ ADTN traded down $0.81 during midday trading on Thursday, hitting $7.86. 514,023 shares of the company traded hands, compared to its average volume of 912,161. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. The stock has a 50-day moving average price of $10.08 and a 200 day moving average price of $8.49. The firm has a market cap of $627.70 million, a P/E ratio of -1.21 and a beta of 1.29.

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.