ADT Inc. (NYSE:ADT) Sees Significant Growth in Short Interest

ADT Inc. (NYSE:ADT) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 21,650,000 shares, an increase of 33.1% from the December 31st total of 16,260,000 shares. Based on an average daily trading volume, of 6,670,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 4.5% of the shares of the stock are sold short.

ADT Price Performance

Shares of NYSE ADT traded down $0.07 during trading hours on Friday, reaching $7.70. 6,486,915 shares of the stock traded hands, compared to its average volume of 4,563,707. The company’s 50-day simple moving average is $7.25 and its two-hundred day simple moving average is $7.29. The company has a market capitalization of $6.98 billion, a P/E ratio of 8.36 and a beta of 1.51. ADT has a 52-week low of $6.10 and a 52-week high of $8.25. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.93.

Analysts Set New Price Targets

Several research analysts recently weighed in on ADT shares. The Goldman Sachs Group upped their price objective on shares of ADT from $8.20 to $9.20 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley boosted their price target on shares of ADT from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $9.00 price objective on shares of ADT in a research report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADT. Abich Financial Wealth Management LLC purchased a new position in shares of ADT in the third quarter worth about $70,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ADT during the 4th quarter valued at about $73,000. Chicago Partners Investment Group LLC bought a new position in ADT during the 4th quarter worth approximately $74,000. KBC Group NV increased its stake in ADT by 46.9% in the 3rd quarter. KBC Group NV now owns 10,577 shares of the security and automation business’s stock worth $76,000 after purchasing an additional 3,375 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in ADT in the third quarter valued at approximately $76,000. 87.22% of the stock is currently owned by institutional investors.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.