UTStarcom (NASDAQ:UTSI) Director Sean Shao Sells 14,533 Shares of Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) 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 sale, the director directly owned 10,000 shares of the company’s stock, valued at $23,800. This represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

UTStarcom Stock Performance

Shares of UTSI stock opened at $2.35 on Friday. The company’s 50-day simple moving average is $2.48 and its two-hundred day simple moving average is $2.52. UTStarcom Holdings Corp has a one year low of $2.00 and a one year high of $3.63.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About UTStarcom

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.