Short Interest in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Expands By 5.8%

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,740,000 shares, a growth of 5.8% from the July 15th total of 2,590,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of ADTRAN

Several hedge funds have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. purchased a new position in shares of ADTRAN during the 4th quarter valued at about $27,000. Nisa Investment Advisors LLC lifted its holdings in ADTRAN by 20,809.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 6,867 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of ADTRAN in the second quarter worth $69,000. RPO LLC bought a new stake in shares of ADTRAN during the 4th quarter valued at $84,000. Finally, SG Americas Securities LLC purchased a new position in shares of ADTRAN during the 2nd quarter valued at $90,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 2.1 %

ADTN opened at $5.43 on Tuesday. ADTRAN has a 1-year low of $4.34 and a 1-year high of $8.81. The firm’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $5.48. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $429.61 million, a PE ratio of -0.79 and a beta of 1.21.

Analyst Ratings Changes

ADTN has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price objective on shares of ADTRAN in a research report on Wednesday, August 7th. Northland Securities upgraded shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research note on Wednesday, May 8th. StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research report on Thursday, August 8th. Finally, Northland Capmk raised ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

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.