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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of 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 company are short sold. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 1.2 days.

ADTRAN Stock Up 1.1 %

ADTN opened at $8.82 on Wednesday. The stock has a fifty day moving average of $10.12 and a 200-day moving average of $8.49. The company has a market capitalization of $704.37 million, a P/E ratio of -1.35 and a beta of 1.29. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Craig Hallum started coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a research note on Friday, February 28th. Needham & Company LLC raised their price target on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Northland Securities upped their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $13.50.

Institutional Trading of ADTRAN

Several hedge funds and other institutional investors have recently bought and sold shares of ADTN. Schonfeld Strategic Advisors LLC bought a new position in shares of ADTRAN during the fourth quarter worth approximately $12,921,000. JPMorgan Chase & Co. increased its stake in ADTRAN by 591.5% during the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider’s stock worth $7,196,000 after acquiring an additional 738,893 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in ADTRAN in the 4th quarter valued at $6,095,000. Royce & Associates LP bought a new stake in shares of ADTRAN during the 4th quarter valued at $4,061,000. Finally, 1492 Capital Management LLC bought a new position in shares of ADTRAN in the fourth quarter worth $3,033,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.