ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Short Interest Up 336,922.8% in August

ADI Global Distribution Inc. Common Stock (NYSE:ADIG) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 2,365,900 shares, an increase of 336,922.8% from the July 30th total of 702 shares. Based on an average trading volume of 1,660,800 shares, the days-to-cover ratio is presently 1.4 days. Currently, 3.1% of the company’s stock are short sold.

ADI Global Distribution Inc. Common Stock Stock Up 1.5%

ADI Global Distribution Inc. Common Stock stock traded up $0.33 during midday trading on Tuesday, hitting $22.43. 763,815 shares of the stock were exchanged, compared to its average volume of 1,467,454. ADI Global Distribution Inc. Common Stock has a 52-week low of $20.21 and a 52-week high of $30.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.62 and a current ratio of 2.80.

Hedge Funds Weigh In On ADI Global Distribution Inc. Common Stock

A hedge fund recently bought a new stake in ADI Global Distribution Inc. Common Stock stock. J.Safra Asset Management Corp bought a new stake in ADI Global Distribution Inc. Common Stock (NYSE:ADIG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,145 shares of the company’s stock, valued at approximately $1,175,000.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADIG shares. Zacks Research raised ADI Global Distribution Inc. Common Stock to a “hold” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on ADI Global Distribution Inc. Common Stock in a research report on Friday, August 7th. They set a “neutral” rating and a $25.00 target price on the stock. Seaport Research Partners initiated coverage on ADI Global Distribution Inc. Common Stock in a report on Friday, August 14th. They set a “buy” rating and a $35.00 price target for the company. Finally, Oppenheimer assumed coverage on ADI Global Distribution Inc. Common Stock in a research report on Tuesday, August 4th. They issued an “outperform” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

About ADI Global Distribution Inc. Common Stock

ADI Global Distribution, Inc is a wholesale distributor serving the security, low-voltage, and smart-building technology markets. The company supplies products from multiple manufacturers to professional installers, systems integrators, contractors, and other channel partners rather than selling primarily to consumers.

Its product categories include video surveillance equipment, access-control systems, intrusion and fire-alarm products, networking and data-communications equipment, audio-visual solutions, smart-home technologies, and related wire, cable, and installation accessories.