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

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

ADTRAN Stock Down 2.6 %

Shares of NASDAQ ADTN opened at $10.37 on Monday. The firm has a market cap of $822.44 million, a price-to-earnings ratio of -1.59 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN has a 52-week low of $4.34 and a 52-week high of $11.23. The business’s 50 day moving average is $9.15 and its two-hundred day moving average is $7.14.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADTN shares. Rosenblatt Securities raised their price objective on ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Craig Hallum began coverage on ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a research note on Thursday, January 16th. Finally, Northland Securities boosted their price objective on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.75.

Institutional Trading of ADTRAN

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of ADTRAN by 24.7% during the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock worth $295,000 after acquiring an additional 7,011 shares during the period. Assenagon Asset Management S.A. increased its position in shares of ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock worth $7,708,000 after acquiring an additional 263,156 shares during the period. JPMorgan Chase & Co. increased its holdings in ADTRAN by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 13,478 shares during the last quarter. Barclays PLC increased its holdings in ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after buying an additional 11,880 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after buying an additional 63,960 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.