UTStarcom Holdings Corp (NASDAQ:UTSI) Short Interest Up 13,849.4% in June

UTStarcom Holdings Corp (NASDAQ:UTSI) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 71,142 shares, an increase of 13,849.4% from the June 15th total of 510 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 1,836,709 shares, the short-interest ratio is presently 0.0 days.

UTStarcom Trading Up 0.8%

Shares of NASDAQ UTSI traded up $0.02 during mid-day trading on Friday, reaching $2.49. 12,844 shares of the company’s stock were exchanged, compared to its average volume of 981,675. The business has a fifty day simple moving average of $2.65 and a 200 day simple moving average of $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 report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average 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.