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

Posted by Tyrone Williams on Nov 27th, 2024

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Free Report) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 14,600 shares, a growth of 231.8% from the October 31st total of 4,400 shares. Based on an average trading volume of 6,200 shares, the short-interest ratio is currently 2.4 days. Approximately 0.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of UTStarcom in a report on Tuesday. They issued a “sell” rating for the company.

Read Our Latest Stock Analysis on UTSI

UTStarcom Stock Down 2.4 %

Shares of UTSI stock traded down $0.07 during mid-day trading on Wednesday, hitting $2.90. The stock had a trading volume of 1,330 shares, compared to its average volume of 4,313. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.70. The company’s 50-day simple moving average is $2.86 and its 200-day simple moving average is $2.78.

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is currently owned by institutional investors and hedge funds.

UTStarcom Company Profile

(Get Free Report)

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.