Short Interest in UTStarcom Holdings Corp. (NASDAQ:UTSI) Grows By 122.9%

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 7,800 shares, a growth of 122.9% from the December 15th total of 3,500 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 5,900 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent disclosure 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 approximately 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on UTStarcom in a research report on Monday. They issued a “sell” rating on the stock.

UTStarcom Price Performance

UTSI stock remained flat at $2.74 during midday trading on Wednesday. 227 shares of the company traded hands, compared to its average volume of 1,736. The company’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $2.78. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.30.

About UTStarcom

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.