ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Update

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,100,000 shares, a decline of 7.5% from the October 15th total of 2,270,000 shares. Based on an average trading volume of 495,600 shares, the days-to-cover ratio is currently 4.2 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ADTN shares. Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $10.00 in a report on Friday, November 8th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC raised their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ADTRAN presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Institutional Trading of ADTRAN

Several hedge funds have recently bought and sold shares of ADTN. Blue Trust Inc. increased its holdings in shares of ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 4,177 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in ADTRAN during the third quarter valued at approximately $65,000. Point72 DIFC Ltd bought a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $69,000. Intech Investment Management LLC purchased a new position in shares of ADTRAN in the 3rd quarter worth approximately $92,000. Finally, SG Americas Securities LLC bought a new position in shares of ADTRAN during the 2nd quarter valued at approximately $90,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Down 2.8 %

NASDAQ ADTN opened at $7.75 on Monday. ADTRAN has a 12 month low of $4.34 and a 12 month high of $8.29. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The stock has a market cap of $614.19 million, a PE ratio of -1.19 and a beta of 1.20. The stock’s 50 day moving average is $6.19 and its 200 day moving average is $5.69.

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.