Adtran Inc (NASDAQ:ADTN).
Renaissance Technologies LLC bought 90,400 shares in the previous quarter increasing its exposure to Adtran Inc by 5.6%. Its position stood at $41,053,000 an increase of $7,597,000 as of the end of the quarter.
Several firms have shifted positions in (ADTN). As of the end of the quarter Millennium Management LLC had bought 274,091 shares growing its holdings by 171.9%. The value of the total investment in Adtran Inc went from $3,292,000 to $10,405,000 increasing 216.1% since the last quarter. As of quarter end Kennedy Capital Management, Inc. had acquired a total of 18,698 shares growing its position 4.4%. The value of the investment in (ADTN) increased from $8,710,000 to $10,572,000 a change of 21.4% for the reporting period.
William Blair Investment Management, LLC bolstered its investment by buying 176,356 shares an increase of 20.7%. William Blair Investment Management, LLC owns 1,029,385 shares valued at $24,705,000. The value of the position overall is up by 40.2%.
On October 18 analysts at Northland Securities updated its forecast on ADTN and giving a rating of “Buy” and establishing a price target of $28.00. On September 5 Northland Securities held the company rating at “Buy” projecting a price of $28.00.
Needham & Company LLC raised the price target on August 10 changing the price objective from $25.00 to $26.00 and stated a “Buy” rating.
The company is now down since yesterday’s close of 20.75. The company currently has a P/E ratio of 23.65 and market capitalization is 996.70M. As of the last earnings report the EPS was $0.88 with 48.15M shares now outstanding.
Investors are feeling more bullish on shares of Adtran Inc at least if you consider the decrease in short interest. The firm saw a fall in short interest from September 29, 2017 to October 13, 2017 of -5.13%. Short shares decreased from 852,594 to 808,827 over that timeframe. The days to cover increased to 4.0 and the percentage of shorted shares was 0.02% on October 13.