Short Interest in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Increases By 21.9%

ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Free Report) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,670,000 shares, a growth of 21.9% from the January 31st total of 2,190,000 shares. Based on an average daily volume of 861,200 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

A number of research firms have issued reports on ADTN. Rosenblatt Securities decreased their target price on ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Argus lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Monday, November 20th. StockNews.com raised shares of ADTRAN to a “sell” rating in a research note on Saturday, February 10th. Finally, Needham & Company LLC decreased their price objective on ADTRAN from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, ADTRAN presently has a consensus rating of “Hold” and an average price target of $11.13.

Check Out Our Latest Research Report on ADTRAN

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in ADTRAN by 41.3% during the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 574 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of ADTRAN by 165.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 1,386 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of ADTRAN during the third quarter valued at $46,000. Quadrant Capital Group LLC grew its position in ADTRAN by 686.7% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 2,788 shares during the period. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 81.88% of the company’s stock.

ADTRAN Price Performance

ADTN stock opened at $6.05 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 2.65 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $6.76 and its 200 day simple moving average is $6.98. ADTRAN has a 12-month low of $4.91 and a 12-month high of $17.00. The firm has a market cap of $476.14 million, a price-to-earnings ratio of -1.89 and a beta of 1.13.

About ADTRAN

(Get Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

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