UTStarcom Holdings Corp. (NASDAQ:UTSI) Sees Significant Decline in Short Interest

Posted by Anthony Miller on Dec 14th, 2024

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Free Report) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 8,700 shares, a decrease of 40.4% from the November 15th total of 14,600 shares. Based on an average daily trading volume, of 6,900 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On 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 – Free Report) in the third quarter, according to its most recent 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 about 2.72% of UTStarcom at the end of the most recent reporting period. Institutional investors own 1.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on UTSI

UTStarcom Price Performance

Shares of NASDAQ UTSI remained flat at $2.64 during midday trading on Friday. 342 shares of the stock were exchanged, compared to its average volume of 10,306. The firm has a fifty day moving average of $2.82 and a 200 day moving average of $2.77. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.54.

About UTStarcom

(Get Free Report)

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.