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

UTStarcom Holdings Corp. (NASDAQ:UTSI) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 5,100 shares, a drop of 26.1% from the May 31st total of 6,900 shares. Based on an average daily trading volume, of 4,200 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of UTStarcom in a report on Thursday. They issued a “sell” rating on the stock.

UTStarcom Price Performance

UTSI remained flat at $2.75 during trading on Friday. The company had a trading volume of 2,502 shares, compared to its average volume of 2,987. The stock has a 50 day simple moving average of $2.71 and a 200 day simple moving average of $2.84. UTStarcom has a twelve month low of $2.20 and a twelve month high of $4.15.

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.