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

UTStarcom Holdings Corp (NASDAQ:UTSI) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 3,280 shares, a drop of 47.8% from the September 30th total of 6,279 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 4,037 shares, the days-to-cover ratio is presently 0.8 days.

UTStarcom Trading Down 4.3%

Shares of UTStarcom stock traded down $0.10 during trading on Monday, reaching $2.12. 6,098 shares of the stock traded hands, compared to its average volume of 104,829. The business has a fifty day simple moving average of $2.30 and a two-hundred day simple moving average of $2.46. UTStarcom has a 52-week low of $2.00 and a 52-week 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 Friday, September 4th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Insiders Place Their Bets

In other UTStarcom news, Director Sean Shao sold 14,533 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $2.38, for a total transaction of $34,588.54. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $23,800. The trade was a 59.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

About UTStarcom

UTStarcom Holdings Corp. (NASDAQ: UTSI) is a telecommunications equipment and solutions provider serving communications service providers and other network operators. The company develops and supplies infrastructure used to deliver broadband, voice, video, and data services over fixed and wireless networks.

Its product offerings have included broadband access equipment, Internet Protocol (IP) networking systems, optical transport platforms, mobile and broadband backhaul solutions, and related network management software and services.