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

UTStarcom Holdings Corp. (NASDAQ:UTSI) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 14,200 shares, an increase of 153.6% from the February 28th total of 5,600 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 3,900 shares, the short-interest ratio is presently 3.6 days.

Institutional Investors Weigh In On UTStarcom

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 the company in its most recent filing 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 about 2.72% of UTStarcom at the end of the most recent reporting period. Institutional investors and hedge funds own 1.83% of the company’s stock.

UTStarcom Price Performance

Shares of UTSI opened at $2.38 on Friday. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.22. The stock has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $2.73.

Wall Street Analysts Forecast Growth

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

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.