UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Update

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 13,700 shares, an increase of 61.2% from the January 15th total of 8,500 shares. Based on an average daily volume of 5,700 shares, the short-interest ratio is presently 2.4 days. Currently, 0.4% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on UTStarcom in a research report on Friday. They set a “sell” rating on the stock.

UTStarcom Trading Down 5.0 %

NASDAQ:UTSI traded down $0.14 during trading hours on Friday, hitting $2.55. The company’s stock had a trading volume of 8,726 shares, compared to its average volume of 3,280. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.30. The business’s 50-day moving average is $2.72 and its two-hundred day moving average is $2.78.

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 position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. 1.83% of the stock is currently owned by institutional investors and hedge funds.

UTStarcom Company Profile

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.