3 days Ago By ABMN Staff
ADTRAN Holdings, Inc. ( NASDAQ:ADTN – Get Free Report ) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 2,100,000 shares, a decline of 7.
5% from the October 15th total of 2,270,000 shares. Based on an average daily trading volume, of 495,600 shares, the days-to-cover ratio is presently 4.2 days.
ADTRAN Price Performance ADTRAN stock opened at $7.73 on Tuesday. ADTRAN has a 1 year low of $4.
34 and a 1 year high of $8.29. The firm has a 50 day moving average price of $6.
24 and a 200 day moving average price of $5.71. The company has a market cap of $612.
60 million, a price-to-earnings ratio of -1.19 and a beta of 1.20.
The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.
10. Analyst Upgrades and Downgrades A number of brokerages have recently commented on ADTN. Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $6.
00 to $10.00 in a report on Friday, November 8th. Needham & Company LLC lifted their price target on shares of ADTRAN from $8.
00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.
com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.
50. Institutional Investors Weigh In On ADTRAN A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in ADTRAN by 3.
7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after purchasing an additional 63,960 shares during the period. Barclays PLC grew its holdings in ADTRAN by 11.
4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after purchasing an additional 11,880 shares during the period. State Street Corp grew its holdings in ADTRAN by 2.
8% in the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after purchasing an additional 48,542 shares during the period. Quantinno Capital Management LP purchased a new stake in ADTRAN in the third quarter valued at approximately $120,000.
Finally, Point72 Asset Management L.P. purchased a new stake in ADTRAN during the third quarter worth approximately $114,000.
80.56% of the stock is currently owned by hedge funds and other institutional investors. About ADTRAN ( Get Free Report ) 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. See Also Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.
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