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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 956,000 shares, a decline of 28.7% from the January 15th total of 1,340,000 shares. Based on an average daily volume of 902,700 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Northland Securities increased 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. Rosenblatt Securities raised their price objective on ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a research note on Thursday, January 16th. Finally, Craig Hallum began coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price for the company. One investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.75.

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $11.65 on Friday. The business’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $7.47. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN has a 12 month low of $4.34 and a 12 month high of $12.16. The firm has a market capitalization of $923.96 million, a P/E ratio of -1.79 and a beta of 1.29.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds have recently made changes to their positions in ADTN. Catalyst Funds Management Pty Ltd grew its position in ADTRAN by 6.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock valued at $190,000 after buying an additional 1,300 shares during the period. Hsbc Holdings PLC boosted its stake in ADTRAN by 11.4% in the fourth 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 last quarter. Tudor Investment Corp ET AL grew its position in shares of ADTRAN by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock valued at $2,320,000 after acquiring an additional 1,670 shares during the period. Inspire Investing LLC increased its stake in shares of ADTRAN by 5.1% during the 3rd 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 during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 during the period. 80.56% of the stock is currently owned by 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.