UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Update

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

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 at the end of the most recent quarter. 1.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of UTStarcom in a research note on Wednesday. They set a “sell” rating for the company.

UTStarcom Price Performance

NASDAQ UTSI opened at $2.58 on Friday. The company has a 50 day simple moving average of $2.76 and a 200-day simple moving average of $2.79. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.30.

UTStarcom Company Profile

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.