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

UTStarcom Holdings Corp (NASDAQ:UTSI) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 8,315 shares, a decline of 50.6% from the August 15th total of 16,832 shares. Based on an average trading volume of 7,117 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.1% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of UTStarcom in a research note on Friday, September 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

UTStarcom Price Performance

Shares of NASDAQ UTSI traded down $0.09 during trading on Wednesday, hitting $2.19. 3,384 shares of the company were exchanged, compared to its average volume of 5,486. UTStarcom has a 1 year low of $2.00 and a 1 year high of $3.63. The firm’s fifty day moving average price is $2.41 and its 200 day moving average price is $2.50.

Insider Buying and Selling

In other UTStarcom news, Director Sean Shao sold 14,533 shares of UTStarcom stock in a transaction that occurred 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 of the company’s stock, valued at approximately $23,800. The trade was a 59.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

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.