Short Interest in UTStarcom Holdings Corp (NASDAQ:UTSI) Drops By 51.7%

UTStarcom Holdings Corp (NASDAQ:UTSI) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 17,962 shares, a drop of 51.7% from the July 15th total of 37,165 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 12,833 shares, the short-interest ratio is presently 1.4 days.

UTStarcom Price Performance

Shares of UTStarcom stock opened at $2.50 on Tuesday. UTStarcom has a 52 week low of $2.00 and a 52 week high of $3.63. The business has a 50 day moving average price of $2.53 and a 200-day moving average price of $2.52.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, UTStarcom currently has a consensus rating of “Sell”.

UTStarcom Company Profile

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.