UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Update

UTStarcom Holdings Corp. (NASDAQ:UTSI) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 13,700 shares, an increase of 61.2% from the January 15th total of 8,500 shares. Based on an average daily volume of 5,700 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned about 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is owned by institutional investors.

UTStarcom Price Performance

NASDAQ UTSI traded down $0.14 on Friday, reaching $2.55. The stock had a trading volume of 8,726 shares, compared to its average volume of 3,280. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.30. The business’s 50-day moving average price is $2.72 and its 200 day moving average price is $2.78.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on UTStarcom in a report on Friday. They issued a “sell” rating for the company.

UTStarcom Company Profile

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.