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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large drop in short interest in 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. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 5,300 shares, the days-to-cover ratio is presently 0.9 days.

UTStarcom Price Performance

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of UTStarcom in a research report on Friday. 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.