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

UTStarcom Holdings Corp. (NASDAQ:UTSIGet Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 7,800 shares, an increase of 122.9% from the December 31st total of 3,500 shares. Based on an average trading volume of 5,900 shares, the short-interest ratio is presently 1.3 days. Approximately 0.2% of the company’s stock are sold short.

UTStarcom Stock Performance

NASDAQ:UTSI traded up $0.20 during trading hours on Wednesday, hitting $2.95. The company’s stock had a trading volume of 511 shares, compared to its average volume of 2,578. The stock has a fifty day moving average of $2.76 and a 200-day moving average of $2.78. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.30.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of UTStarcom in a research note on Wednesday. They issued a “sell” rating for the company.

Check Out Our Latest Analysis on UTStarcom

Institutional Investors Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSIFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

About UTStarcom

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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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