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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 5,000 shares, a drop of 35.1% from the September 30th total of 7,700 shares. Based on an average daily trading volume, of 5,300 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on UTStarcom in a research note on Friday. They issued a “sell” rating on the stock.

UTStarcom Price Performance

NASDAQ UTSI traded up $0.26 during trading on Friday, hitting $2.98. 11,969 shares of the company’s stock traded hands, compared to its average volume of 4,182. The business has a 50 day moving average of $2.84 and a 200-day moving average of $2.76. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.75.

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.