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

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

Institutional Trading of 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) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,145 shares of the company’s stock, valued at approximately $1,175,000.

Analyst Upgrades and Downgrades

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

ADI Global Distribution Inc. Common Stock Stock Performance

NYSE ADIG opened at $22.43 on Wednesday. ADI Global Distribution Inc. Common Stock has a 12 month low of $20.21 and a 12 month high of $30.99. The company has a quick ratio of 1.62, a current ratio of 2.80 and a debt-to-equity ratio of 0.40.

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.