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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a significant increase in short interest in 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 company’s shares are sold short. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its stake in shares of ADTRAN by 11.5% during the 4th quarter. Squarepoint Ops LLC now owns 387,944 shares of the communications equipment provider’s stock worth $3,232,000 after buying an additional 39,978 shares during the last quarter. Two Sigma Investments LP boosted its position in ADTRAN by 5.6% during the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider’s stock valued at $808,000 after purchasing an additional 5,168 shares during the last quarter. Shellback Capital LP bought a new position in ADTRAN in the fourth quarter valued at approximately $1,653,000. ProShare Advisors LLC increased its position in shares of ADTRAN by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,180 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 7,299 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 877 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Up 1.1 %

NASDAQ:ADTN opened at $8.82 on Wednesday. The company has a market cap of $704.37 million, a P/E ratio of -1.35 and a beta of 1.29. ADTRAN has a twelve month low of $4.34 and a twelve month high of $12.44. The business has a 50 day moving average price of $10.12 and a two-hundred day moving average price of $8.49. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Northland Securities upped 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 restated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a report on Friday, February 28th. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.