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

Posted by Cynthia Vaughn on Dec 29th, 2024

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Free Report) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 3,500 shares, a decline of 59.8% from the November 30th total of 8,700 shares. Based on an average trading volume of 6,100 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% 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 bought a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 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 SEC. 1.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on UTSI

UTStarcom Price Performance

Shares of UTSI stock traded up $0.10 on Friday, hitting $2.80. The stock had a trading volume of 1,897 shares, compared to its average volume of 4,607. The company has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $2.76. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.44.

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.