UTStarcom Holdings Corp (NASDAQ:UTSI – Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 3,280 shares, a decline of 47.8% from the September 30th total of 6,279 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 4,037 shares, the days-to-cover ratio is presently 0.8 days.
UTStarcom Stock Up 0.5%
UTStarcom stock opened at $2.23 on Friday. UTStarcom has a 12 month low of $2.00 and a 12 month high of $3.63. The stock’s 50 day moving average is $2.30 and its 200-day moving average is $2.46.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of UTStarcom in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Insiders Place Their Bets
In related news, Director Sean Shao sold 14,533 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $2.38, for a total value of $34,588.54. Following the sale, the director owned 10,000 shares in the company, valued at approximately $23,800. This represents a 59.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.
UTStarcom Company Profile
UTStarcom Holdings Corp. (NASDAQ: UTSI) is a telecommunications equipment and solutions provider serving communications service providers and other network operators. The company develops and supplies infrastructure used to deliver broadband, voice, video, and data services over fixed and wireless networks.
Its product offerings have included broadband access equipment, Internet Protocol (IP) networking systems, optical transport platforms, mobile and broadband backhaul solutions, and related network management software and services.
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