ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Up 40.5% in December

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,630,000 shares, an increase of 40.5% from the December 15th total of 1,160,000 shares. Based on an average trading volume of 666,300 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

Several research firms have weighed in on ADTN. Northland Securities lifted their price objective on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of ADTRAN in a report on Thursday. Craig Hallum began coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price objective for the company. Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $11.50.

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $10.13 on Friday. The company has a fifty day moving average of $8.62 and a 200 day moving average of $6.73. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $10.71. The company has a market capitalization of $803.41 million, a P/E ratio of -1.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Institutional Trading of ADTRAN

Several institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares during the period. JPMorgan Chase & Co. increased its position in shares of ADTRAN by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after purchasing an additional 13,478 shares during the last quarter. Barclays PLC boosted its holdings in ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after acquiring an additional 11,880 shares during the period. Geode Capital Management LLC boosted its holdings in ADTRAN by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after acquiring an additional 63,960 shares during the period. Finally, State Street Corp boosted its holdings in ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after acquiring an additional 48,542 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.