UTStarcom Holdings Corp. (NASDAQ:UTSI) Sees Significant Decrease in Short Interest

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 5,600 shares, a decrease of 39.8% from the February 13th total of 9,300 shares. Based on an average trading volume of 4,900 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on UTStarcom in a research report on Monday, March 10th. They issued a “sell” rating on the stock.

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 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. Hedge funds and other institutional investors own 1.83% of the company’s stock.

UTStarcom Price Performance

Shares of NASDAQ UTSI traded down $0.07 during midday trading on Friday, hitting $2.41. 1,463 shares of the company’s stock were exchanged, compared to its average volume of 4,982. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.22. The firm’s fifty day simple moving average is $2.64 and its 200-day simple moving average is $2.74.

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.