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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the target of a large decline in short interest in 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. Based on an average trading volume of 1,275,803 shares, the short-interest ratio is currently 5.1 days. Approximately 8.2% of the company’s stock are sold short. Approximately 8.2% of the company’s stock are sold short. Based on an average trading volume of 1,275,803 shares, the short-interest ratio is currently 5.1 days.

Insider Transactions at ADTRAN

In other news, CEO Thomas R. Stanton acquired 40,928 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the completion of the acquisition, the chief executive officer owned 982,096 shares in the company, valued at approximately $7,198,763.68. The trade was a 4.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nikos Theodosopoulos acquired 12,859 shares of ADTRAN stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $7.81 per share, with a total value of $100,428.79. Following the transaction, the director owned 52,154 shares of the company’s stock, valued at approximately $407,322.74. The trade was a 32.72% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 59,937 shares of company stock valued at $449,754. 1.50% of the stock is owned by insiders.

Institutional Trading of ADTRAN

A number of institutional investors and hedge funds have recently modified their holdings of ADTN. Kestra Advisory Services LLC bought a new stake in shares of ADTRAN during the 4th quarter worth $36,000. Bridgefront Capital LLC lifted its position in ADTRAN by 17.7% during the 4th quarter. Bridgefront Capital LLC now owns 29,717 shares of the communications equipment provider’s stock worth $258,000 after acquiring an additional 4,478 shares during the last quarter. State Street Corp boosted its holdings in ADTRAN by 4.5% during the fourth quarter. State Street Corp now owns 1,985,890 shares of the communications equipment provider’s stock valued at $17,257,000 after acquiring an additional 86,382 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN during the fourth quarter valued at about $47,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ADTRAN by 1.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after purchasing an additional 2,068 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $10.13 on Monday. The business’s 50-day simple moving average is $9.15 and its 200-day simple moving average 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 52 week low of $6.93 and a 52 week high of $12.44. The firm has a market cap of $811.62 million, a price-to-earnings ratio of -9.47 and a beta of 1.39.

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.