UTStarcom Holdings Corp (NASDAQ:UTSI) Sees Large Decline in Short Interest

UTStarcom Holdings Corp (NASDAQ:UTSI) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 37,165 shares, a drop of 47.8% from the June 30th total of 71,142 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 28,830 shares, the short-interest ratio is presently 1.3 days.

UTStarcom Price Performance

Shares of NASDAQ UTSI traded down $0.12 during midday trading on Wednesday, hitting $2.31. 27,241 shares of the company’s stock were exchanged, compared to its average volume of 148,502. The firm’s fifty day simple moving average is $2.61 and its 200-day simple moving average is $2.52. UTStarcom has a twelve month low of $2.00 and a twelve month high of $3.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of UTStarcom in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

UTStarcom Company Profile

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.