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

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

Analyst Ratings Changes

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

UTStarcom Stock Performance

UTSI stock traded down $0.12 during midday trading on Wednesday, hitting $2.31. The company’s stock had a trading volume of 27,241 shares, compared to its average volume of 148,502. UTStarcom has a 52-week low of $2.00 and a 52-week high of $3.63. The firm has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $2.52.

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.