ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Down 15.0% in January

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 6,490,309 shares, a decline of 15.0% from the January 15th total of 7,638,464 shares. Approximately 8.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,275,803 shares, the days-to-cover ratio is presently 5.1 days. Based on an average daily trading volume, of 1,275,803 shares, the days-to-cover ratio is presently 5.1 days. Approximately 8.2% of the company’s shares are short sold.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $10.15 on Wednesday. The firm has a market capitalization of $813.22 million, a P/E ratio of -9.49 and a beta of 1.39. The firm’s 50-day moving average price is $9.21 and its 200-day moving average price is $9.04. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. ADTRAN has a 1-year low of $6.93 and a 1-year high of $12.44.

Analyst Ratings Changes

ADTN has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a research report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Insiders Place Their Bets

In related news, CFO Timothy P. Santo acquired 6,150 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were bought at an average cost of $8.02 per share, with a total value of $49,323.00. Following the completion of the purchase, the chief financial officer directly owned 26,594 shares in the company, valued at $213,283.88. The trade was a 30.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas R. Stanton bought 40,928 shares of ADTRAN stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $7.33 per share, for a total transaction of $300,002.24. Following the completion of the acquisition, the chief executive officer directly owned 982,096 shares of the company’s stock, valued at $7,198,763.68. The trade was a 4.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 59,937 shares of company stock valued at $449,754. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds have recently added to or reduced their stakes in ADTN. Cape Investment Advisory Inc. bought a new stake in shares of ADTRAN during the second quarter worth about $27,000. Quarry LP purchased a new position in shares of ADTRAN during the third quarter valued at approximately $36,000. State of Alaska Department of Revenue bought a new stake in ADTRAN during the third quarter worth $36,000. Kestra Advisory Services LLC purchased a new stake in ADTRAN in the 4th quarter valued at $36,000. Finally, ST Germain D J Co. Inc. raised its position in ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

About ADTRAN

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.