Short Interest in UTStarcom Holdings Corp. (NASDAQ:UTSI) Decreases By 59.8%

by · The Markets Daily

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Free Report) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 3,500 shares, a drop of 59.8% from the November 30th total of 8,700 shares. Based on an average trading volume of 6,100 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on UTStarcom

UTStarcom Stock Up 3.7 %

UTSI traded up $0.10 during trading on Friday, hitting $2.80. 1,897 shares of the stock traded hands, compared to its average volume of 4,607. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.44. The business has a 50 day moving average price of $2.76 and a 200 day moving average price of $2.76.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 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.

About UTStarcom

(Get Free Report)

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.

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