UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Update

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 13,700 shares, an increase of 61.2% from the January 15th total of 8,500 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 5,700 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. Institutional investors and hedge funds own 1.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on UTStarcom in a report on Friday. They issued a “sell” rating for the company.

UTStarcom Stock Performance

Shares of NASDAQ:UTSI opened at $2.56 on Friday. The firm has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $2.78. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.30.

About UTStarcom

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.