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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 14,100 shares, an increase of 95.8% from the August 31st total of 7,200 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 5,000 shares, the short-interest ratio is presently 2.8 days.

UTStarcom Trading Down 3.7 %

NASDAQ UTSI traded down $0.11 during trading hours on Friday, reaching $2.89. 6,969 shares of the company’s stock traded hands, compared to its average volume of 4,081. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.79. The firm has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $2.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on UTStarcom in a report on Monday. They set a “sell” rating on the stock.

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.