ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Up 27.0% in March

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,460,000 shares, an increase of 27.0% from the February 28th total of 1,150,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently bought and sold shares of the stock. Aquatic Capital Management LLC raised its stake in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 6,290 shares during the period. SIH Partners LLLP acquired a new stake in shares of ADTRAN during the 4th quarter worth $107,000. Hsbc Holdings PLC raised its position in shares of ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after buying an additional 1,501 shares during the period. Quantbot Technologies LP boosted its holdings in ADTRAN by 104.5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 7,636 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in ADTRAN during the third quarter valued at about $92,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Down 2.0 %

ADTN opened at $8.72 on Tuesday. ADTRAN has a 12 month low of $4.34 and a 12 month high of $12.44. The business has a 50-day moving average of $10.15 and a two-hundred day moving average of $8.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The stock has a market capitalization of $696.38 million, a price-to-earnings ratio of -1.34 and a beta of 1.29.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADTN shares. Needham & Company LLC boosted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Northland Securities boosted their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. Finally, Craig Hallum started coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price on the stock. 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 company’s stock. According to MarketBeat, ADTRAN presently has an average rating of “Buy” and a consensus target price of $13.50.

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.