Short Interest in Adeia Inc. (NASDAQ:ADEA) Drops By 14.4%

Adeia Inc. (NASDAQ:ADEA) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 3,799,473 shares, a drop of 14.4% from the January 15th total of 4,437,935 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily volume of 837,649 shares, the short-interest ratio is presently 4.5 days. Based on an average daily volume of 837,649 shares, the short-interest ratio is presently 4.5 days. Currently, 3.5% of the company’s shares are sold short.

Adeia Price Performance

ADEA opened at $18.80 on Tuesday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 28.92 and a beta of 1.44. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. Adeia has a 12-month low of $10.59 and a 12-month high of $20.33. The business’s fifty day simple moving average is $17.38 and its 200-day simple moving average is $15.83.

Institutional Investors Weigh In On Adeia

Several hedge funds have recently modified their holdings of ADEA. Hantz Financial Services Inc. boosted its stake in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares in the last quarter. Quarry LP lifted its holdings in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in Adeia during the 3rd quarter valued at $28,000. Osaic Holdings Inc. increased its holdings in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the period. Finally, CWM LLC raised its position in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after acquiring an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

ADEA has been the topic of several recent analyst reports. BWS Financial increased their price target on Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 29th. Roth Mkm reiterated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Rosenblatt Securities raised their price target on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.00.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.