UTStarcom Holdings Corp (NASDAQ:UTSI) Sees Significant Growth in Short Interest

UTStarcom Holdings Corp (NASDAQ:UTSI) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 71,142 shares, a growth of 13,849.4% from the June 15th total of 510 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,836,709 shares, the short-interest ratio is presently 0.0 days.

UTStarcom Stock Performance

UTStarcom stock traded up $0.02 during trading hours on Friday, reaching $2.49. The stock had a trading volume of 12,844 shares, compared to its average volume of 161,788. The business’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.52. UTStarcom has a 52 week low of $2.00 and a 52 week high of $3.63.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of UTStarcom in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average 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.