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

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

UTStarcom Stock Down 0.2 %

NASDAQ UTSI traded down $0.01 during trading on Friday, hitting $2.82. The company had a trading volume of 115 shares, compared to its average volume of 2,656. UTStarcom has a one year low of $2.20 and a one year high of $3.30. The company’s fifty day moving average is $2.76 and its 200-day moving average is $2.79.

Analyst Ratings Changes

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

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 about 2.72% of UTStarcom at the end of the most recent reporting period. Institutional investors own 1.83% of the company’s stock.

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.