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 in the month of December. As of December 31st, there was short interest totalling 1,630,000 shares, a growth of 40.5% from the December 15th total of 1,160,000 shares. Based on an average trading volume of 666,300 shares, the short-interest ratio is currently 2.4 days.

ADTRAN Stock Performance

Shares of ADTN stock opened at $10.13 on Thursday. ADTRAN has a 52 week low of $4.34 and a 52 week high of $10.71. The firm has a 50 day moving average of $8.54 and a two-hundred day moving average of $6.71. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $803.37 million, a PE ratio of -1.56 and a beta of 1.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADTN shares. Needham & Company LLC increased their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities raised their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $10.00 in a research note on Friday, November 8th. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Craig Hallum began coverage on ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $11.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in ADTRAN by 39.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of ADTRAN by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock worth $741,000 after buying an additional 13,478 shares in the last quarter. Barclays PLC increased its stake in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after buying an additional 11,880 shares during the period. Geode Capital Management LLC raised 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 acquiring an additional 63,960 shares in the last quarter. Finally, State Street Corp lifted its stake in ADTRAN by 2.8% in the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after acquiring an additional 48,542 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.