UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Down 26.1% in June

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 5,100 shares, a decline of 26.1% from the May 31st total of 6,900 shares. Based on an average daily trading volume, of 4,200 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of UTStarcom in a report on Thursday. They set a “sell” rating for the company.

UTStarcom Price Performance

Shares of UTStarcom stock remained flat at $2.75 during trading on Friday. The company had a trading volume of 2,502 shares, compared to its average volume of 2,987. UTStarcom has a 1 year low of $2.20 and a 1 year high of $4.15. The stock has a fifty day moving average of $2.71 and a 200 day moving average of $2.84.

About UTStarcom

UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications in China, India, Japan, and internationally. Its products include converged packet transport, disaggregated router platform, packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products.