UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Up 122.9% in December

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,800 shares, a growth of 122.9% from the December 15th total of 3,500 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 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 and Exchange Commission. Institutional investors own 1.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on UTStarcom in a research note on Monday. They set a “sell” rating for the company.

UTStarcom Price Performance

NASDAQ UTSI remained flat at $2.74 during trading on Wednesday. 227 shares of the company’s stock traded hands, compared to its average volume of 1,736. The business’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $2.78. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.30.

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.