UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Up 61.2% in January

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 13,700 shares, an increase of 61.2% from the January 15th total of 8,500 shares. Based on an average daily volume of 5,700 shares, the short-interest ratio is presently 2.4 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 2.72% of UTStarcom as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.83% of the company’s stock.

UTStarcom Trading Down 5.5 %

Shares of UTStarcom stock traded down $0.15 during trading on Thursday, hitting $2.57. 9,810 shares of the company’s stock were exchanged, compared to its average volume of 3,173. The business has a 50-day simple moving average of $2.72 and a 200-day simple moving average of $2.78. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.30.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of UTStarcom in a report on Thursday, February 6th. They set a “sell” rating for the company.

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.