Short Interest in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Declines By 15.0%

ADTRAN Holdings, Inc. (NASDAQ:ADTN) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 6,490,309 shares, a drop of 15.0% from the January 15th total of 7,638,464 shares. Based on an average daily volume of 1,275,803 shares, the short-interest ratio is currently 5.1 days. Currently, 8.2% of the shares of the stock are sold short. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 1,275,803 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADTN. Rosenblatt Securities restated a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of ADTRAN in a research report on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ADTRAN has an average rating of “Hold” and a consensus price target of $13.00.

ADTRAN Trading Up 1.9%

NASDAQ ADTN opened at $10.13 on Monday. The firm’s 50 day moving average price is $9.15 and its two-hundred day moving average price is $9.03. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.23 and a current ratio of 1.96. ADTRAN has a twelve month low of $6.93 and a twelve month high of $12.44. The stock has a market cap of $811.62 million, a price-to-earnings ratio of -9.47 and a beta of 1.39.

Insider Transactions at ADTRAN

In other ADTRAN news, Director Nikos Theodosopoulos bought 12,859 shares of ADTRAN stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $7.81 per share, for a total transaction of $100,428.79. Following the completion of the acquisition, the director owned 52,154 shares of the company’s stock, valued at approximately $407,322.74. This represents a 32.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy P. Santo purchased 6,150 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $8.02 per share, for a total transaction of $49,323.00. Following the transaction, the chief financial officer owned 26,594 shares of the company’s stock, valued at $213,283.88. The trade was a 30.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 59,937 shares of company stock valued at $449,754 in the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On ADTRAN

Several hedge funds have recently bought and sold shares of ADTN. Alyeska Investment Group L.P. purchased a new position in ADTRAN during the 3rd quarter valued at about $10,168,000. Paradigm Capital Management Inc. NY boosted its holdings in shares of ADTRAN by 527.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock worth $9,819,000 after purchasing an additional 949,909 shares during the period. SG Capital Management LLC purchased a new position in ADTRAN during the second quarter valued at approximately $7,601,000. Assenagon Asset Management S.A. grew its position in ADTRAN by 691.6% during the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after purchasing an additional 814,864 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in ADTRAN by 5,809.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after buying an additional 773,509 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.