UTStarcom Holdings Corp (NASDAQ:UTSI) Sees Significant Decrease in Short Interest

UTStarcom Holdings Corp (NASDAQ:UTSI) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 3,280 shares, a decline of 47.8% from the September 30th total of 6,279 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 4,037 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity at UTStarcom

In other UTStarcom news, Director Sean Shao sold 14,533 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.38, for a total transaction of $34,588.54. Following the completion of the sale, the director directly owned 10,000 shares of the company’s stock, valued at approximately $23,800. This represents a 59.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

UTStarcom Price Performance

Shares of UTSI stock traded up $0.01 during trading hours on Friday, reaching $2.23. 7,762 shares of the company’s stock were exchanged, compared to its average volume of 5,046. UTStarcom has a 1 year low of $2.00 and a 1 year high of $3.63. The stock’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a research note on Friday, September 4th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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.