Short Interest in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Drops By 9.5%

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,900,000 shares, a drop of 9.5% from the October 31st total of 2,100,000 shares. Based on an average trading volume of 556,300 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price target on shares of ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $9.50.

ADTRAN Trading Up 1.3 %

Shares of NASDAQ ADTN opened at $8.50 on Monday. The stock has a market capitalization of $674.14 million, a P/E ratio of -1.31 and a beta of 1.20. ADTRAN has a 1-year low of $4.34 and a 1-year high of $9.05. The business’s 50 day moving average is $6.76 and its two-hundred day moving average is $5.89. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

Institutional Trading of ADTRAN

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after acquiring an additional 142,100 shares during the period. Paradigm Capital Management Inc. NY raised its position in ADTRAN by 173.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock worth $12,872,000 after purchasing an additional 1,551,000 shares during the period. Cubist Systematic Strategies LLC bought a new stake in ADTRAN in the second quarter worth about $681,000. Divisar Capital Management LLC grew its stake in shares of ADTRAN by 25.0% during the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock valued at $30,195,000 after buying an additional 1,146,774 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of ADTRAN by 99.3% in the third quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock worth $2,914,000 after buying an additional 244,901 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.